June 8th, 2020: Praedicat announces the launch of a scenario-based COVID-19 exposure modeling program.
Praedicat has developed scenarios that represent a range of ultimate pandemic outcomes, including fully-specified causes of action, numbers of plaintiffs, and defendant industries.
The losses from these scenarios will be simulated under various estimates of the potential scale of the pandemic and assigned to potentially responsible companies. All estimates provided by Praedicat will be updated regularly as new causes of action are identified, and as the course of the pandemic becomes clearer.
Clients will be able to use the projected industrial footprint of the scenarios to estimate limits exposed and to evaluate the potential tail risk of coronavirus. The information can be used to develop underwriting strategies, evaluate the adequacy of reserves, and to enable them to respond to exposure inquiries from regulatory authorities and rating agencies.
In anticipation that COVID-19 liability will largely emerge in state courts, Praedicat will also be launching the ground-breaking litigation tracker for United States COVID-19 liability filings in all 50 states, the District of Columbia, and US federal courts. The data will include all cases and defendants in all jurisdictions related to the coronavirus, often prior to claims made to insurers. The litigation tracking system will be updated monthly as new cases are filed.
To read the full press release click here.
To learn more information about the scenarios click here.
Click here to discover how our powerful COVID-19 scenarios package and litigation tracker tool can benefit your business.
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