In a recent conversation with The Insurer, Christopher Ross, Managing Director, Guy Carpenter, identified three primary trends influencing in longer-tail classes: social inflation, the impact of large catastrophe-type claims and the unreconciled nature of claims in occurrence-based policies.
In the following video, Ross highlights the impact of social inflation on primary business, including umbrella-type coverage, fueled by an increase in frequency of severity and an increasingly aggressive plaintiff bar.
