Professionals: Short-term » Press Room

SOCIAL INFLATION

Social inflation is challenging the liability environment for companies and impacting potential claims payments for insurers, driven by a wide variety of factors such as anti-corporate sentiment, the rise of the litigation funding industry and even the growing use of jury psychologists. And it is no longer just a US phenomenon….

• Social inflation trends are challenging to predict, as they’re driven by ‘soft’ social ideas like public perception of corporate behavior, social media and changing demographics
• The increasing sophistication of the plaintiffs’ bar and the changing composition of jury pools which can influence how cases are viewed and verdicts awarded
• New collective action options and a growing collective redress trend have resulted in increased liability exposure for companies amid softening of EU regulatory obstacles
• Traditional public and product liability insurance, as well as motor, professional, medical, workers’ compensation and D&O insurance claims can all be affected by social inflation

Download the full article below

Downloads »	Type	Size
SOCIAL INFLATION	PDF	822 KB

Breaking News »

Healthcare » Satrix scoops 10 SALTA awards including South Africa's favourite ETF Scenario planning for future disruptions THERE’S A STORM COMING: CLIMATE CHANGE ESG MOVES INTO THE MAINSTREAM (AND THE BOARDROOM) New CEO to breathe life into financial sector transformation

Investment » Don’t fall for the hype around speculative investments SATRIX WINS MORNINGSTAR BEST FUND HOUSE AWARD Diversification is one of the many effects of oil price volatility on Middle Eastern and African oil producers SAIA welcomes Competition Commission guidelines on automotive aftermarket Local hedge funds industry finding its feet in a regulated environment

Life » Hollard Group’s life insurance pay-outs soar to historic highs during Covid-19 pandemic Life insurers pay more than half a trillion Rand to policyholders and beneficiaries in 2020 To insure or self-insure? A conundrum for fleet operators Allianz Global Corporate & Specialty Partners with Google Cloud and Munich Re to Provide Cyber Risk Management Solution for Cloud Customers Michael Furtschegger to lead Entertainment line of business at AGCS globally

Retirement » STATUTORY MANAGEMENT OF SECURITY SECTOR FUND FAILS TO IMPROVE EMPLOYER COMPLIANCE Treasury further tightens the noose on retirement assets of emigrants AGCS 12 months results update Allianz delivers a strong finish to 2020 How you can benefit from the Skills Development Levy