Skip to main content
Marsh logo

Podcast

Risk in Context Podcast: Assessing and addressing the impact of social inflation

Social inflation remains most prevalent in the US, its impact is being felt in several other countries, requiring all organizations to take action to protect their business.
Pen pointing to an inflation chart

05/16/2023 · 3-minute read

The increasing frequency and severity of nuclear verdicts is threatening the financial health of businesses, while the high claim payouts are worrying underwriters. And although social inflation remains most prevalent in the US, its impact is being felt in several other countries, requiring all organizations to take action to protect their business.

In this episode of Risk in Context, Dan Aronson, Marsh’s US Casualty Practice Leader, speaks with Chetna Gulati-Kapoor, Senior Claims Advocate within Marsh’s International Claims Solutions Division, William Liebler, Chief Claims Officer for the US, and Michael Snyder, Senior Casualty Broker within Marsh’s US Casualty Practice, about the issues contributing to social inflation and its potential impact on companies. They also share actions that organizations should consider in order to mitigate and manage their risks, including the threat of nuclear verdicts.

Google Podcast Apple Podcast Spotify Podcast
Download Transcript

Key takeaways

Social inflation is impacting total cost of risk.

Outsized jury awards are affecting insurers’ profitability, and may lead to increased insurance costs even for organizations that have not had a nuclear verdict.

Early intervention is key to managing potentially difficult claims.

Claims, especially volatile ones, can change rapidly. Early broker involvement and communication with insurers is critical to managing overall cost of risk.

Focus on your ESG posture.

Corporations should strengthen their environmental, social, and governance commitments and demonstrate they are good corporate citizens by investing in their local communities to mitigate the risk of a nuclear verdict.

About our speakers

US Casualty Practice Leader

Daniel Aronson

US Casualty Practice Leader

Dan Aronson is Marsh’s US Casualty Practice Leader. He has full management and oversight responsibilities for Marsh’s various casualty businesses in the United States, including advice and transaction of workers’ compensation, primary liability lines, collateral solutions, excess, international, environmental, product recall, group captives, life sciences, and various specialty industry offerings. He also works closely with Marsh’s casualty consulting, claims, loss control, and data and analytics groups to continue to evolve Marsh’s overall casualty value proposition aimed at mitigating our clients’ cost of risk.

Chetna Gulati-Kapoor

Chetna Gulati Kapoor

Senior Claims Advocate, International Claims Solutions Division

Chetna Gulati-Kapoor is a senior claims advocate within Marsh’s International Claims Solutions Division. Based in London, she provides technical assistance on complex claims across various regions and lines of business. She is also responsible for developing and driving claims initiatives and fostering closer relationships between claims, broking, and advisory colleagues.

Placeholder Image

William F Liebler

US Chief Claims Officer & Managing Director, Claims Solutions

William Liebler is a senior member of the Marsh Claims Solutions practice, and currently serves as the US Chief Claims Officer. He manages and provides strategic direction to Marsh’s claims advocacy and specialty claims services groups. He and his team work closely with various internal partners to deliver on Marsh’s claim value proposition and promise to clients.

Michael Snyder

Michael Snyder

Senior Casualty Broker, US

Michael (Mike) Snyder is an excess casualty manager based in Marsh’s Pittsburgh office where he handles some of the firm’s largest and most complex placements throughout the US. He specializes in analytics-based program design and execution, while interacting with insurance markets on a global basis, utilizing various coverage triggers. He works in full collaboration with the client advisory team, as well as Marsh’s captive and alternative risk specialists.

Previous podcasts

metallurgical plant heavy industry poor ecology top view smoke from chimneys smog

Podcast

Risk in Context Podcast: Advancing sustainability through a robust voluntary carbon credits market

09/03/2024
Worldwide network connection, digital art illustration

Podcast

Risk in Context Podcast: Mastering region-specific complexities amid multinational expansion

07/30/2024
bioenergy plant utilizing organic waste to produce biogas for heating and electricity, reducing greenhouse gas emissions.

Podcast

Risk in Context Podcast: Exploring the risks and benefits of technologies aiding the energy transition

07/09/2024
Building under construction

Podcast

Risk in Context Podcast: Addressing people challenges within the construction industry

06/04/2024

Related insights

Conference meeting

Article

Improving workers compensation claim outcomes through data-driven reviews

07/23/2024
Close-up of a person working on laptop, analysing data.

Webcast

From Incident to Resolution: Managing cyber claims successfully

12/08/2023
Cybercrime, hacking and technology concept - hands typing on computer keyboard

Article

The evolving landscape of cyber claims

10/26/2023
Net Zero and Carbon Neutral Concepts Net Zero Emissions Goals Weather neutral long-term strategy.

Webcast

The effects of ESG risks on claims: A holistic discussion on how to increase resilience and improve sustainability

06/16/2023
View more