February 22, 2021: In the Carrier Management article, Emerging Damage: The Case of Melamine, our CEO Dr. Robert Reville, Senior Scientist and VP of Modeling, Dr. Adam Grossman and Senior Bioscience Analyst, Sheryll Mangahas discuss the three phases of emerging risk while highlighting melamine, which should certainly be on your risk radar!
Out of hundreds of risks being investigated by scientists, most are likely to be safe and few will ever see litigation. That means that reacting to these risks at an early “emerging interest” stage by taking underwriting actions has a big downside, Praedicat executives advise. Here, they also describe the too-late “emerging litigation” stage and the just-right “emerging damages” stage, highlighting one particular chemical compound in that middle stage—melamine—explaining that carriers now have an opportunity to take actions to manage and price the risk while still writing it.
Read the full article here.
To learn more about Praedicat’s emerging risk framework and how it facilitates taking action on emerging risks, click here.
Missed our webinars about emerging risks and COVID-19? Catch up by watching our Llody’s Lab Demo Day video where we discuss our D&O-GL cross-line clash COVID-19 scenarios. Then watch the first Carrier Management ExecTalk video featuring Praedicat, the Praedicat-Intelligent Insurer webinar on the future of risk management, and the Coffee with Bob series now!
Have questions? Get in touch with one of our Account Management team members.