All legal, claims, actuarial, financial, reserving and technical staff that are involved with re/insurance coverage and reserves should attend to hear about the Court of Appeal decision on the doctrine of good faith, in that it requires in the event of an employee being exposed to asbestos in multiple years of EL insurance, and the EL insurer settling the culpable employer’s claim without allocating the loss to any particular year of insurance, that the EL insurer is obliged (in the absence of specific provision for this situation in the corresponding reinsurances) to present any outwards claim in respect of that loss on a pro rata, time on risk basis for the purpose of calculating reinsurance recoveries.
We take this opportunity to debate the ‘spiking’ question and look at insurers’ options. Our experts will explain the position set out by the Court of Appeal to help delegates assimilate the relevance of this decision and build on this information which could help in potential presentation of their own claims. The session will explore possible early warning signs for a spiked claim presentation and present arguments for and against the original court decision and the Court of Appeal. Discussion time will also be available to consider the benefits of assessing the time on risk probabilities for reserving purposes on any EL book