Public Entity & School Insurance Specialist - Vice President - Brokerage & Risk Management at Apex
Looking ahead to 2025, social inflation will continue to drive up casualty insurance rates as rising litigation costs, larger jury awards, and increased legal fees put pressure on insurers. The growing prevalence of "nuclear verdicts" (extremely high damage awards) and evolving societal attitudes toward liability and corporate responsibility are pushing insurers to adjust premiums to account for higher potential losses. This trend is particularly affecting lines like general liability, auto liability, professional and employment practices liability, as insurers face greater uncertainty and increased claim severity across the board. Good information below.