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NXG Insurance Agency Group Blog

All You Ever Wanted to Know About Insurance

Social Inflation

Social inflation refers to the rising costs of insurance claims that are a result of societal trends. As the insurance market changes, it’s important for businesses to understand what’s currently driving social inflation. Doing so not only provides them with a better understanding of the issues that affect their insurance costs, but it can also help them take proactive steps to protect their business in the face of litigation.