Earlier this year, I wrote an article for Carrier Management that looked at potentially emerging issues that may have not yet been captured on the risk monitors of underwriters or by the algorithms of property/casualty insurance actuaries. I started with some comments about issues that have already started to emerge—those related to GOT, or herbicide glyphosate, opioids and talc.

Related articles:

Kingdollar Comments: Emerging Risk Issues Left Out of Algorithms;

More Emerging Risks for 2020: Insurance Costs for Violence Unclear

All three have been in use for decades. Thousands of plaintiffs have filed lawsuits. In the case of opioids, cities, states and healthcare systems have also filed suits. Litigation has already begun for these issues and several multimillion-dollar verdicts have been handed down. Each of these emerging issues could result in billions of dollars in defense and indemnity costs.

There have been some recent developments related to the potential cost of GOT that are worth noting:

It seems doubtful that even a few years ago, let alone decades ago, underwriters providing coverage for the defendants involved would have priced for such potential claims activity.