According to an article in Risk & Insurance, “Technological, social and economic trends are converging to complicate liability exposure, driving up claim frequency and severity.”
Three macro trends blurring the lines include:
- Technology pulls additional parties into the liability equation.
- Jurors’ views on social justice are shifting and driving up jury verdicts against companies.
- A tightening labor market forces reliance on outsourcing, but you can’t outsource exposure.
Let’s talk about what we do about it from here.
Read the full article at riskandinsurance.com
Our Observations
“When accidents happen, claimants and jurors are pointing their fingers at corporations for social justice, even if they may not be liable. It’s essential you partner with a broker to be proactive in mitigating these new expectations so you aren’t punished for something you aren’t responsible for.”
– DeAnna Buck, Captive Power Broker
“The lines of liability are starting to blur with the advancement of technology and automation. Navigating these changes and addressing the exposures are of utmost importance as you take your company to the next level.”
– Maron Impagliazzo, Transportation Power Broker
