“Adequate rate trend is only a part of the entire question,” Forness said. “To respond to social inflation, you need a multi-pronged approach: risk selection, contract wording, exclusions, claims oversight, legal panels. Rate is just one element.”
“Adequate rate trend is only a part of the entire question,” Forness said. “To respond to social inflation, you need a multi-pronged approach: risk selection, contract wording, exclusions, claims oversight, legal panels. Rate is just one element.”