White Paper

How Captives and Program Solutions Can Benefit Insureds Amid Social Inflation and Rising Insurance Prices

With insurance costs on the rise, many are turning to captive and program solutions to help manage their risk transfer expenses.

White Paper Summary

As markets harden, insureds from every sector may be experiencing hefty premium increases across lines. In recent years, as the insurance industry has attempted to balance its books in the face of inflation and the aftermath of the COVID-19 pandemic, rate increases have become the norm, even for businesses with good loss histories.

Take the commercial auto and workers’ compensation lines, for example. Talent shortages in trucking have caused firms to bring in newer, less experienced drivers who might be more likely to get into an accident. Added to that, insurance companies are considering the impact of social inflation on jury verdicts should a claim end up going to trial.

Workers’ comp has struggled with similar talent shortages. As industries from construction to manufacturing fight to attract and retain workers, they may deal with staffing issues and younger, less experienced workers — both of which can lead to an uptick in injuries.

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The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity.

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