Reinsurance News

Praedicat releases COVID-19 litigation tracker results

29th July 2020 - Author: Matt Sheehan

Praedicat, a risk analytics and modelling company for casualty re/insurers and industrial firms, has released the initial results from its COVID-19 litigation tracker platform.

PraedicatThe newly launched platform found that more than 200 casualty-relevant virus complaints have already been filed in the US courts.

The complaints allege that corporate defendants are responsible for introducing and spreading COVID-19 in the country.

As of July 13, 217 complaints have been filed with 55% involving allegations of personal injury or threat of personal injury among cruise ship passengers and nursing home residents and employees.

The Praedicat tracker allows users to identify industries most vulnerable to COVID-19 litigation, with significant clusters of complaints in hospitals, meat packing facilities, restaurants, and warehouses.

It also captures shareholder actions alleging corporate officers breached their fiduciary duty during the pandemic.

“Our litigation tracking service has provided the first picture of the scale of the emerging legal action related to the fast-changing pandemic,” explained David Loughran, Head of Product and Chief Economist at Praedicat.

“Already, we are seeing that nursing home complaints are accelerating while cruise line complaints are leveling off. The initial feedback we have had from clients is that the data has been extremely useful to help them manage their potential exposure to novel causes of action.”

The long-term plan for the litigation tracker is to capture other emerging casualty-relevant litigation in its earliest stages so that clients can track how litigation events unfold over time.

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