Litigation Trends & the Cost of Claims

Litigated liability claims, though few in number, drive a large share of overall claims costs and are rising due to factors like attorney advertising, third-party funding, and broader definitions of liability. Social and economic inflation, nuclear verdicts, and cultural shifts further complicate litigation expenses. Effective management requires timely investigations within the first two weeks of an incident, supported by data analytics, technology, and predictive models to mitigate costs and improve outcomes. Please join Mac Koonce, Chief Claims Officer for their view on this topic.