Affirming is key as due to lost human capital Hiscox-19 No Author xx, xx-xx-xxxx, "American overdose," No Publication, https://www.hiscoxlondonmarket.com/blog/american-overdose?fbclid=IwAR2Zj3apYRjOzViIikO-TwcGdvSlNFE1-mDKi771AbtFg-XILjxoC6_dhic//SM
The “worst drug crisis in American history” could have a profound effect on liability insurers. The opioids crisisgripping the US is, according to the White House, the “worst drug crisis in American history” and “a public health emergency”. More than 2 million people are addicted, 46 Americans on average die each day from prescription opioid overdoses and the problem is costing the US economy $504 billion every year, or 3% of the country’s Gross Domestic Product. It could also become the defining corporate crisis of the early 21st century, says Ed Whitworth, Management Liability Underwriter at Hiscox London Market. “It has the potential tohave as large an impact as the financial crisis of 2008,” on American society. The human and social crisis also has the potential to be a catastrophe for the liability insurance sector, Whitworth adds. “It could be a systemic loss for the market, because multiple lines of liability insurance are likely to see claims,”
This would be devastating as in 08 alone Boston University Boston University, "The Financial Crisis and the Great Recession", https://www.bu.edu/eci/files/2019/06/MAC_2e_Chapter_15.pdf//IB
The crisis also spread beyond U.S. borders. As consumption and income declined in the United States, many countries experienced a significant reduction in exports as well as a decline in the investments that they held in the United States. As a result, global GDP declined by 2 percent in 2009. It has been estimated thatbetween 50 million and 100 million people around the world either fell into, or were prevented from escaping, extreme povertydue to the crisis. Why did this happen? Why were its effects so long-lasting? What lessons can be learned for the future? These are complicated questions to which this chapter provides some answers.