In chapter 15, page 23, the notes state that in a soft market, incurred claims development patterns are slower to develop.
One of the potential reasons given for this is an increasing tendency to dispute claims. Why would there be an increasing tendency to dispute claims in a soft market?
Edit: Thinking about this again, I guess the insurer is more likely to dispute claims because their profit margins are being squashed in a soft market
Last edited by a moderator: Jan 28, 2015