Changing the Focus of Claims, Data When Talking About Nuclear Verdicts.

The article discusses the rising trend of nuclear verdicts in the insurance industry, with settlements reaching an all-time high in 2023. Panelists at a summit highlighted the need for early identification of severe claims and data sharing to combat social inflation. Insurers are facing challenges in pushing back against nuclear verdicts, as plaintiff attorneys are becoming more skilled and well-funded, using tactics like the reptile theory to sway jurors. The industry is exploring ways to gather and analyze data effectively to make better underwriting and claims decisions. [Extracted from the article]