About
While underwriting is often based on historical results, rates and premiums must take into account future losses and their financial impact on the insurer. Insurers have experienced loss emergence caused by large verdicts, particularly on casualty lines. The panelists will discuss methodologies to account for these changes in the environment, including impacts to claims operations. The panelists will also identify and recommend potential company actions to combat social inflation and the influence of litigation funding. Failing to recognize the potential for these losses can put a company at risk making this a hot-button topic.
Presentation Objectives:
1. Recognize the potential for large verdicts by discussing the impact of jurisdiction, attorney involvement, the role of litigation funding, and changing juror sentiments
2. Identify and predict the trends impacting large verdicts
3. Recognize how innovative actuarial methodologies using more granular data and ML modeling can be used effectively
4. Identify and discuss the industry’s response to large verdicts
This webinar was organized in collaboration with IASA, an affiliate of The Institutes. For more information about IASA's CPE policies, visit: https://www.iasa.org/cpe-policy/
PLEASE NOTE: Earning CPE credit only applies to those who attended and participated during the live webinar on Tuesday, October 1, 2024.