How exposed is your casualty portfolio to “forever” chemicals?
Per- and polyfluoroalkyl substances (PFAS) have been used for decades to confer water-resistance and oil-repellency to a wide range of materials, including cookware, food packaging, and textiles. Unfortunately, these chemicals are toxic, persist in the environment, and bioaccumulate in people and animals. And now drinking water systems are filing lawsuits across the country against manufacturers and users of PFAS seeking to recover the costs of removing these “forever” chemicals from the water they supply.
These lawsuits could be just the beginning. The U.S. Environmental Protection Agency established a PFAS health advisory of 70 ppt in drinking water in 2016. If that advisory becomes an enforceable standard, drinking water systems would need to remediate water consumed by more than a third of all Americans. Many more lawsuits would surely follow.
Concerned? Praedicat has just released a set of PFAS drinking water contamination scenarios that can help you get a handle on your potential aggregations of this looming liability disaster.
The PFAS scenarios provide:
- Detailed exposure maps show which industries and companies are in the crosshairs of this unfolding mass litigation event
- A range of severity levels contemplate how regulators will react to the worsening science investigating PFAS
- The ability to quickly upload your casualty book so you can easily review estimates of insured loss and dig deeper into which accounts are driving those losses
Praedicat is the leading provider of liability catastrophe scenarios for exposure management. Click here to learn more about working with Praedicat to manage your aggregations of PFAS and dozens of other possible mass litigation events.
Read all about forever chemicals in the Carrier Management article “Are Forever Chemicals a Forever Problem for Insurers” by Praedicat’s Dr. Adam Grossman and Dr. Arianna Libera.
Missed our webinars about emerging risks and COVID-19? Watch Dr. Adam Grossman talk about identifying and managing emerging chemicals of risk, as well as forever chemicals in the first Carrier Management ExecTalk video.
Have questions? Get in touch with one of our Account Management team members.