Asbestos Claim Data Subscriptions
Insurers and reinsurers are facing increased scrutiny over the magnitude and accuracy of asbestos reserves. In fact, the microscope placed over directors, executives, auditors and legal counsel has never been greater. As pioneers in the asbestos/silica data management and analysis field, Navigant has worked with hundreds of defendants, insurers, reinsurers and their counsel for more than two decades. Our professionals are experienced in the asbestos claims management process, including assessing the reasonableness of asbestos claim data; designing and developing the systems, procedures and controls necessary to administer claims efficiently; analyzing the insurance and reinsurance issues which commonly arise; and estimating ultimate liabilities.
-
Asbestos Litigation Database Services
-
-
On the Trail of Risks with a Long Tail
Bradley Drew & Allan Kaufman share information regarding Navigant’s repository of asbestos data
-
Our extensive experience in this arena has led to the development of unique, subscription-based data services which enable insurers and reinsurers to minimize uncertainties of asbestos exposure by gaining insight into high-level trends with respect to asbestos litigation filings and settlements, as well as more sophisticated policyholder and claim-specific issues. Subscribers to the service gain access to a database of nearly every asbestos complaint filed in the U.S. since 1997. Insurers and reinsurers should consider subscribing to these services if one or more of the following issues exists:
- A material asbestos/silica reserve across a large number of policyholders or cedents.
- Management or Board of Director requirements to improve insight into the macro and micro issues of handling the company's asbestos and silica claims, especially in situations where management has an interest in expediting the resolution of these claims.
- Primary carrier with claims handling responsibility needing to assess appropriateness/reasonableness of settlement requests from plaintiff counsel.
- Excess carrier for policyholder actively exhausting underlying coverage by settlement of asbestos and/or silica claims.
- Reinsurer needing internal assessment of exposures to compare against that reported by its cedents.
- An insurer/reinsurer of policyholders with silica claims who need to assess asbestos retread claims.
- Management objectives to initiate policy buy-backs or commutations, or to respond to counter-party initiated policy buy-backs or commutations.
