Social inflation

The report highlighted the issue of social inflation: “While there are many aspects of this phenomenon, the key characteristics include a trend to hold corporations and other organisations responsible to a much greater degree for their actions – sometimes for actions in the distant past. There is also a noticeable trend toward holding corporations accountable for societal ills where the corporation may have been an actor or just a bystander. Consider the opioid litigation that is ensnaring many organisations. Consider the reviver statutes that are aimed at clerical abuse, but create a spectre of unending litigation, legitimate and spurious, for schools, health care institutions and non-profits when statutes of limitations are abandoned.”