This release of CoMeta includes changes to how we display information regarding the recency of data and analytics supporting Litagion agent, company, industry, and damages profiles and incorporates projected loss estimates from our updated liability catastrophe model, the results of which were released in Oortfolio on March 8. This release also includes three new chemical Litagion® agents, one updated company profile, one new company, and a host of updated Litagion agent profiles impacted by newly published science.
This release of CoMeta implements a new approach to communicating the recency of data and analytics underlying CoMeta. CoMeta content is currently updated each month. This update process may result in revisions to existing profiles or the addition of entirely new profiles. The scientific literature supporting our Litagion agent profiles is reviewed and updated each month for all Litagion agents. Therefore, users can assume that Litagion agent profiles are current as of the current release date. The current release date is now displayed in the upper left hand corner of CoMeta. Clicking on this date directs the user to CoMeta release notes. With each release, all of this updated Litagion agent information flows to company, industry, and damage profiles as well, meaning that users can assume that those profiles are current with respect to the assessment of Litagion agent risk as of the current release.
In addition to the overall release date, CoMeta users will see date information displayed in company profiles, projected losses, and scenarios. For company profiles, users will see an Updated Date on the company summary page. The Updated Date is the date when Praedicat last revised linkages between the profiled company and profiled Litagion agents. For projected losses, users will see a Model Version Date displayed underneath the exceedance probability curve indicating the date that Praedicat last released an update to its liability catastrophe model. The Model Version Date is also displayed on the main scenario page and within each scenario description.
Liability catastrophe model update
On March 8, we released significant revisions to our liability catastrophe model in Oortfolio. This release of CoMeta brings those model revisions into CoMeta's projected loss pages within Litagion agent, company, and industry profiles. CoMeta's realistic disaster scenarios have also been updated.
The March 8 release of our liability catastrophe model includes the following modeling and data enhancements:
- Revisions to the state-transition model governing the flow of plaintiffs from exposure to injury to claim and settlement
- Relaxation of a purely deterministic allocation mechanism for distributing economy-wide losses to individual companies
- A revision to the method for allocating ground-up losses across policy years under the occurrence form that accounts for the most common allocation methods employed by U.S. courts today
- A revision to the decision rule governing the declaration of an integrated occurrence under the Bermuda form that accounts for the likelihood that an insured’s self-insured retention will be breached
- Incorporation of updated scientific (general causation) risk projections
- Incorporation of updated company profiles and newly profiled companies
Please refer to the 2018-03-08 Oortfolio release notes for further information about these modeling and data enhancements.
New Litagion agent profiles
- Chlordane. Chlordane is a pesticide previously used in termite treatment. It is highly bioaccumulative and persistent in the environment. The highest current general causation risk score for chlordane is 0.22 for endocrine injury.
- Furan. Furan is a chemical formed after the thermal degradation of food. It has been found in high quantities in processed foods. The highest current general causation risk score for furan is 0.39 for liver injury.
- Triphenyl phosphate. Triphenyl phosphate is a flame retardant and plasticizer. In 2014, the U.S. Environmental Protection Agency announced it would perform a risk assessment on triphenyl phosphate. The highest current general causation risk score for triphenyl phosphate is 0.18 for developmental injury.
New company profiles
- Nexeo Solutions Holdings
Updated company profiles
- Henkel AG and Company, KGaA
Updated Litagion agents based on newly published science
In this release, all Litagion agent profiles have been updated to reflect recently published peer-reviewed literature. We provide more detail below for several Litagion agents that experienced changes in their general causation risk score (GC risk score) since the last CoMeta release.
- Chlorpyrifos: A study in China linked prenatal exposure to the pesticide chlopyrifos and motor function deficits in 9 month old infants.
- Cadmium: Levels of cadmium in plasma, breast tissue, scalp hair, and nail were significantly associated with breast cancer in a meta-analysis which used studies from five different databases.
In addition, we want to highlight the most significant changes in the overall risk for the following Litagion agents as the result of recently published peer-reviewed literature:
|Litagion agent||Risk category change||Overall risk change|
|Electronic cigarettes||Projected science risk changed from Medium-high (orange) to High (red)||None|
|Mold||Projected science risk changed from Low (green) to Medium-low (light green)||None|