Legal Focus: Claims inflation and cyber top list of insurers’ legal concerns

Recession-related claims are likely to hit liability coverage for financial institutions and industry professionals, but differing recessionary conditions in today’s market suggest lessons learned from previous downturns will have limited application in predicting outcomes

Insurers face a trying year ahead as the troubled economic climate threatens to drive up claims across a number of business classes, most notably in casualty lines, while an increase in regulatory activity is likely to test carriers’ resolve to continue underwriting cyber business.