As the economy continues to rebound after the pandemic, insurers expect to see growth in construction and hospitality business in 2022, said Rebecca Gitig, head of US primary liability for Aspen Insurance.
Meg Green, managing editor of Insider Engage, is a former daily newspaper journalist. She's covered the insurance industry since 1998, reporting for AM Best before joining the Insider Publishing Group in 2021.
Jonathan Monks, Sompo International’s EVP and Head of Business Development for North American Insurance, said factors including inflation are driving rate across the market. He spoke with Insider Engage at RIMS 2022 in San Francisco.
If PFAS, or “forever chemicals,” are the major risk that's currently in litigation, then ubiquitous microplastics are the major risk that's waiting in the wings, said Bob Reville, Co-Founder, President and Chief Executive Officer of Praedicat.
As the costs of legal liability in the US soar, there are increasing concerns of the impact third-party litigation finance (TPLF) might have on insurers and consumers and this had led to action being taken towards mitigating the effects of social inflation.