Michael S Olsan

Michael S Olsan

March 23, 2020 | The Legal Intelligencer

Social Inflation's Impact on the Insurance Industry

In his 1977 Chairman's letter to stockholders, Berkshire Hathaway CEO Warren Buffett advised that costs in the insurance sector were expected to rise. One reason he offered was "social inflation" which he described as "a broadening definition by society and juries of what is covered by insurance policies."

By Michael S. Olsan

9 minute read