MLchartDataset catalogue

Social inflation

Term · Insurance and risk management · MLC-T-INS-003111

The increase in insurance claim costs that exceeds general economic inflation, driven by societal factors rather than economic ones. These factors include changing public perceptions of corporate responsibility, increased litigation, larger jury awards, and expanded definitions of liability. It significantly impacts liability insurance lines, leading to higher premiums and reduced availability of coverage.

Table 1. Record
IdentifierMLC-T-INS-003111
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003111",
  "term": "Social inflation",
  "field": "Insurance and risk management",
  "definition": "The increase in insurance claim costs that exceeds general economic inflation, driven by societal factors rather than economic ones. These factors include changing public perceptions of corporate responsibility, increased litigation, larger jury awards, and expanded definitions of liability. It significantly impacts liability insurance lines, leading to higher premiums and reduced availability of coverage.",
  "url": "https://mlchart.com/terminology/insurance/social-inflation/"
}

Record 3,209 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.