Ten years ago, there was no such thing as casualty cat modeling. Now, adopting casualty cat modeling is an integral part of an insurer’s ability to manage emerging risks like PFAS and addictive software design. According to Praedicat CEO, Robert Reville in his interview with AM Best TV at Monte Carlo, the (re)insurance industry needs to employ an exposure-based approach to reserving and pricing to better prepare itself against the surge of litigation finance that is transforming the US court environment.
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