Join us on this insightful podcast episode as we delve into the complex issue of social inflation and its impact on the medical malpractice insurance industry. Our guest, Robert E. White, Jr., president of The Doctors Company, provides valuable expertise and insights into this little-understood trend. We discuss the concept of social inflation, the tactics used by plaintiffs' attorneys, and the driving forces behind this phenomenon. We also explore the influence of "nuclear verdicts" on settlements, the proportion of claims affected, and the role of individual sympathy in creating system-wide imbalances. Furthermore, we examine how social inflation affects insurance rates and what the future holds for this concerning trend. Don't miss this episode as we gain a deeper understanding of social inflation and its implications for medical professionals.
Robert E. White, Jr. is president, The Doctors Company.
He discusses his KevinMD article, "Unveiling the hidden impact of social inflation: Soaring costs for medical professionals revealed."
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