Social inflation : navigating the evolving claims environment

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      <subfield code="a">Social inflation </subfield>
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      <subfield code="a">Social inflation is a term that is widely cited in insurance debates but it is often ill-defined or at best only loosely explained. On a broad definition, social inflation refers to all ways in which insurers' claims costs rise over and above general economic inflation, including shifts in societal preferences over who is best placed to absorb risk. More narrowly defined, social inflation refers to legislative and litigation developments which impact insurers' legal liabilities and claims costs.</subfield>
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