A.M. Best TV – Praedicat CEO: Data, models, experience aid casualty risk management
Praedicat President and CEO Robert Reville discusses the conversations he’s having in Monte Carlo around the growth of casualty, the challenges insurers and reinsurers are facing, and how to meet those challenges.
Bob reveals that he’s seeing clients use new applications of data, analytics, and modeling to power innovative approaches and solutions that manage emerging risks like PFAS, and that clients are underwriting with more surgical precision than ever.
Bob cites how inflation, combined with social inflation is causing an “extra inflationary environment” that is impacting casualty. He discloses how some clients are employing exposure-based reserving – driven by data, analytics, and modeling – to better understand and mitigate risk latency and inflation uncertainty.
Click here to view the video.
In the face of rising litigation, how is the industry managing liability exposure to per- and polyfluoroalkyl substances (PFAS)? That is the question posed in The Insurers latest coverage from Monte Carlo.
Our own Adam Grossman joins the discussion, and the article covers a lot of interesting ground as it how the industry is responding to the complexity of PFAS as an evolving risk. The article touches on the uncertainty of just how many substances belong to the harmful chemical family, the testing methodology of the US Environmental Protection Agency (EPA), and the absence of a PFAS “signatory’ disease as a few of the characteristics that make PFAS such a challenging risk.
Click here to read the article.
Carrier Management Article – D&O Underwriters May Be Worried About the Wrong Greenhouse Gas
Greenwashing lawsuits with respect to climate change, while still relatively uncommon, have seen an uptick in recent years, with some alleging harm to consumers and others alleging harm to shareholders. What can underwriters do to prepare? And are we even looking at the most damaging greenhouse gas?
“D&O Underwriters May Be Worried About the Wrong Greenhouse Gas.” Our latest article for Carrier Management examines both questions. Co-authored by our own Adam Grossman and Graham Tibbets, along with Mark Kriss, CEO of Geofinancial Analytics, Inc. the article provides insights you won’t want to miss.
Click here to learn more.
AM Best Article – The PFAS Investment Opportunity
PFAS may very well be the next asbestos. But PFAS may also be the next big investment opportunity. If you are skeptical, we understand. But you should read the latest article in Best’s Review.
In this article, our Robert Reville and Adam Grossman discuss how PFAS remediation technology might just be the best insurtech investment out there. A return on the business and a reduction in claims sounds like a win-win for the savvy investing insurer.
Click here to learn more.
Praedicat announces new partnership with Apollo
We are pleased to announce that Apollo and Praedicat have entered a three-year engagement in which Apollo will license Praedicat’s CoMeta™ platform. Apollo will employ Praedicat’s industry-leading emerging risk analytics that are designed to identify perils at their earliest stages, quantify commercial exposure, and monitor risk development as scientific evidence and regulatory pressure mount and litigation unfolds. The two companies will also collaborate to develop new emerging risk coverages for Apollo customers.
This promises to be a very exciting partnership full of innovation, and we are very much looking forward to it.
Click here to read the full press release.
Emerging
Risk Framework
Insights on emerging risks are great but taking
action on them is even better.
Let’s move your business from insights to action.
Our Emerging Risk Framework breaks emerging risk into three phases: emerging interest, emerging damage and emerging litigation. Depending on the phase of emergence, our methodology recommends specific business actions to take and who should take them. Because our framework is embedded in Praedicat software – with access to tools like the litigation tracker, company risk score, and library of realistic disaster scenarios – understanding the information is intuitive and taking action is easier than ever.
(Re)Insurance Solutions
You can think of it as the way we help you protect your company from the next asbestos. Or think of it as how we help your company grow. Either way, you’d be right.
When we move our clients from a risk avoidance mindset to one of risk engagement, the opportunity for growth is extraordinary. See how we might work with you to identify emerging risks to accelerate growth.
Global Industrial Solutions
Better products. Safer. Faster…
Interested?
Better products that are safer for the world and those who live in it, brought to market faster – these product stewardship ideals are at the heart of our global industrial solutions. It’s what happens when we empower our clients to pursue progress, innovation and growth. Come see for yourself.
Praedicat Appearance Calendar
If you are going to be where
we are going to be, let’s be there together!
RVS Monte Carlo
When: September 10th – September 14th
Where: Monte Carlo
This morning in Monte Carlo, longtime Praedicat Inc. friend Meg Green and our CEO Robert Reville caught up to discuss the impact of PFAS on the industry and how insurers and reinsurers are responding. Is PFAS the next asbestos? What about the absence of a “signaturous” disease? How big of a deal is PFAS water contamination litigation? Bob tackles all of these questions and more about PFAS, including how some of our clients are thoughtfully and creatively using data and analytics to manage their exposures to PFAS – spoiler alert…broad exclusions are not the answer.
Bob also spends some time talking about climate casualty risks, the trends we are seeing and the approaches our clients are taking to mitigate the risks. He also considers how innovations in litigation might broaden the impact of climate casualty well beyond oil and gas, and what that might mean for the industry.
Click here to view the video.