RISK SOLUTIONS
Legacy liabilities
Latent claims arising from exposure to asbestos, pollution, and health hazards (APH) can drag on the bottom line and pose reputational and financial risk well into the future. Expert reserving, modeling, and other actuarial analyses can help manage these legacy risks.
Actuarial and risk management expertise, so past events don’t become future concerns
The effects of asbestos, pollution, and health hazards (APH) have lingered for decades, while newer exposures like PFAS and glyphosate are just beginning to emerge. Projecting and planning for all legacy liabilities is vital to the financial outlook of (re)insurers, corporate entities, and run-off buyers.
From reserving analyses to transactions, independent estimates to economic forecasts, Milliman is well versed at handling complex exposures and long-tail claims, so organizations can make informed decisions for today and their future.
From popcorn to PFAS: Guidance on all legacy risks
We empower insurance and reinsurance companies, corporate entities and legacy book purchasers with the information they need as they decide how to handle a range of legacy and emerging exposures.
Asbestos
Asbestos claims emergence is not slowing, and these legacy risks continue to pose significant financial burdens on corporates and insurers alike. Expert actuarial modeling and reserving are essential to managing and alleviating asbestos liabilities.
Featured content: Market conditions lead to rise in legacy asbestos transactions
Black lung
Black lung claims are different from typical workers’ compensation claims—and their entitlements continue to rise. Milliman is leading the way in estimating federal black lung liabilities to help insurance carriers and self-insured coal operators handle these latent claims.
Featured content: Milliman estimates $9.3 billion in federal black lung liabilities
Mass tort and other legacy risks
Milliman also advises (re)insurers, corporates, and run-offs on other mass tort and environmental exposures, including diacetyl (popcorn), glyphosate, product liability, sexual abuse and molestation, talc, and more.
Featured content: The current impact of legacy losses
PFAS
Ongoing litigation and scientific research surrounding “the next asbestos” make it difficult to project PFAS liabilities. But stochastic modeling and other specialized actuarial methods can effectively estimate PFAS exposure and help determine adequate reserves.
Featured content: The “forever chemical” risk is now: An actuarial reserving study can help insurers prepare for PFAS claims and litigation
The full breadth of services to address your legacy exposures
Should you set up a captive? Seek reinsurance? Sell—or buy? As the leading industry expert, we approach each liability with a unique actuarial methodology tailored to that specific risk. But we’re more than actuaries. We also offer coverage expertise and claims strategy.
Our services include:
Balance sheet reliefCase reservingClaim operational reviewsCommutationForecastingIndependent estimates |
Loss portfolio transferModeling(Re)insurance pricingReservingTransactional due diligence |
Balance sheet reliefCase reservingClaim operational reviewsCommutationForecastingIndependent estimatesLoss portfolio transferModeling(Re)insurance pricingReservingTransactional due diligence |
Specialized tools for managing legacy liabilities
Milliman AccuCase
Improve the accuracy of case reserves for long-tail claims by combining individual claim analysis with actuarial assumptions for better decision making.
Milliman P&C AI Claims Solutions
Identify and manage high-cost P&C insurance claims with the power of AI and Milliman expertise.