Latency catastrophes such as asbestos, pollution, and pharmaceutical litigation have caused insurance companies to pay out billions of dollars in lawsuits. In addition, the ambiguity of allocating these claims to policy years has added another layer of complexity for these companies.
In this Carrier Management article, Robert Reville, CEO of Praedicat and Melissa Boudreau, VP of Modeling, break down latency catastrophe and the occurrence form and demonstrate how Praedicat has developed innovative models as a solution for insurance companies.