“Are you being serious?”
Christopher Swift, chair and chief executive officer of The Hartford, was taken aback by a question from an analyst during the company’s second-quarter earnings call about the impact of litigation finance on the insurer’s results.
“It’s showing up in our loss trend, [and] our allocated loss expenses. We’re spending more time and money on something that turned our judicial system into a gambling system. Are you serious?”
The analyst restated the question, explaining to Swift that he is aware that a variety of issues come together to create social inflation. What