Happy Wednesday! In this week's Big I Buzz, meet the new Big 'I' National Chairman. Plus, US nuclear verdicts break records.

Meet the New Big ‘I’ National Chairman

Todd Jackson has been appointed as the Independent Insurance Agents & Brokers of America's 2024-2025 Chairman. With over 30 years of experience in the insurance industry, he is also the owner and partner at McGowan Insurance Group in Indianapolis. Jackson was officially installed as chairman during the Big “I" Fall Leadership Conference held from September 4-8 in Indianapolis. Independent Agent magazine spoke with Jackson about his journey in insurance, his new role as chairman, and how the Big “I" is adapting to meet its members' needs amid a challenging market environment. Read the interview here.

U.S. Nuclear Verdicts Break Records and Drive Social Inflation to 7% in 2023

In 2023, the U.S. has seen a record 27 court cases resulting in "nuclear verdicts," each awarding over $100 million, according to Swiss Re executives. This surge in large jury awards has contributed to a significant rise in social inflation, which hit 7% (a 20-year high) driven by increasing litigation costs. Dr. Jérôme Jean Haegeli, group chief economist at Swiss Re, addressed these trends during a press briefing at the reinsurance Rendez-Vous de Septembre in Monaco. Read more here.

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