IRLA Members' breakfast briefing

TARGET AUDIENCE

According to the Court of Appeal the doctrine of good faith requires that 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, 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.

LEARNING OBJECTIVES

Delegates will gain insight into the position set out by the Court of Appeal and build on this knowledge which could help in potential presentation of their own claims in a way that follows the decision. The debate will talk about early warning signs for a possible spiked claim presentation and present arguments for and against the original court decision and the Court of Appeal. Time will also be spent on realising the benefits of assessing the time on risk probabilities for reserving purposes on any EL book