November 13th, 2019: Praedicat Inc., as part of Cohort Three, developed Hundreds, the first named peril casualty product in Lloyd’s Lab. This was one of Lloyd’s of London key objectives for the Lloyd’s Lab.
Recent casualty catastrophes (e.g. glyphosate and talc) have risk managers looking for innovative solutions to protect their business. Existing coverage is not well designed to handle latent catastrophic events with cross-LOB clash. Hundreds is coverage designed to fill that gap, bringing all losses relevant to the event under a single cover, with an extended reporting period to cover those unforeseen events on the horizon.
We think this is exciting, and we’re not the only ones who do:
Additional Press:
The Insurance Insider: Praedicat launches first Lloyd’s Lab casualty Insurance Product
Insurance Journal: Praedicat Develops Named Peril Casualty Insurance Product via Lloyd’s Lab
Reinsurance News: Praedicat to develop named peril casualty product from Lloyd’s Lab
Intelligent Insurer: Praedicat to develop peril casualty product from Lloyd’s Lab