Social inflation, or the rise of insurers' costs to cover claims above general economic inflation, is a growing threat to insurance affordability. The struggle to quantify social inflation’s causes is one reason policymakers have yet to reduce its impact. However, there is enough information in the public domain about social inflation to guide a mitigation plan, but success will take collective work on many fronts from all stakeholders.

The risk landscape is always changing. Triple-I Issues Briefs are designed to provide timely snapshots of specific risk areas (“State of the Risk”), as well as broader issues and trends (“Trends and Insights”).

This growing library will be regularly updated as a ready resource for your own research or to inform conversations with industry professionals, policymakers, media, and policyholders.

Each year, the insurance industry comes together for the Insurance Industry Charitable Foundation (IICF) Week of Giving. During this eight-day international and industry-wide initiative, insurance professionals complete volunteer projects in support of community nonprofit organizations.

Defining legal system abuse

Triple-I defines Legal System Abuse as policyholder or plaintiff attorney practices which increase costs and time to settle insurance claims. While litigation is considered a policyholder’s last resort, legal system abuse exploits litigation when a disputed claim could have been resolved without judicial intervention. Legal system abuse contributes to higher costs for insurance operations and policyholder pricing.

Corporations increasingly include non-financial factors, such as environmental and social impacts of operations and investment practices, into business analyses to help them identify risks and growth opportunities.

Generally referred to as environmental, social, and governance (ESG), these factors have become more significant due to:

As plaintiff trial attorneys continue to exploit and manipulate the insurance industry for their own financial gain, it is important to understand the facts of how auto insurance is working for the benefit of consumers.