"Social inflation" means a person can collect additional damages after the original judgment because costs increase (as reflected by the Consumer Price Index).

Question

Quizplus · Accepted Answer

Social inflation refers to the rising costs of insurance claims that are not directly tied to economic inflation but are due to factors such as increased litigation, broader definitions of liability, more plaintiff-friendly legal decisions, and larger jury awards.

"Social Inflation" Means a Person Can Collect Additional Damages After