An index or score intended to capture the risk of claims from a common cause such as a LITAGION agent. Different commercial activities, companies or industries with exposure to the same LITAGION agent have an elevated risk of related or simultaneous claims in a future mass litigation.
Praedicat’s first product, COMETA is a window into forward-looking science-based emerging risk. COMETA identifies and analyzes the risk of future mass litigation. It characterizes hundreds of emerging risks with an ability to drill down to peer-reviewed science and rigorously profiles exposure on a company, industry and clash basis. It is currently used by insurers and reinsurers to scale emerging risk efforts.
A measure of the strength of scientific evidence that a particular setting of exposure to a LITAGION agent can, in principle, cause damage or harm.
A summary visualization of the LITAGION agents associated with a particular company.
The ability of the plaintiffs to disclaim personal responsibility and/or raise statutory and regulatory defenses; in other words, the measure of the risk that a court would deem the exposure to a particular LITAGION agent as unreasonable.
The general causation score measures the extent to which peer-reviewed scientific literature supports a hypothesis that a particular LITAGION agent causes bodily injury or property damage.
Praedicat’s general causation score ranges from -1 to 1. A score of -1 implies general rejection of the hypothesis by scientists while a score of +1 implies general acceptance of the hypothesis by scientists. A score of zero indicates that the evidence overall is equivocal.
The ease of associating a particular defendant with the LITAGION agent exposure setting.
Latent mass action
A hypothetical civil action that is derived from a hypothesis of possible bodily injury or property damage investigated in a peer-reviewed journal article or cited in a regulatory report. The hypothetical action involves a sufficiently large number of plaintiffs (e.g., children of cannery workers) united by a common exposure setting (e.g., working in a food can manufacturer) alleging a specific bodily injury or property damage (e.g., endocrine disruption) as a result of exposure to a LITAGION agent (e.g., bisphenol A). All potential defendants in the stream of commerce for the exposure setting are named in the latent mass action.
A measure of the risk that a court of law would find a defendant liable for damages related to a specific LITAGION agent and a specific commercial activity. The measure incorporates both general causation risk for the underlying science and specific liability (legal) risk for the underlying commercial activity.
A material, substance, process, practice or phenomenon that is the common denominator in an actual or potential latent mass litigation event.
A representation of the set of all of the latent mass actions associated with a LITAGION agent. It is a visualization of the litigation-exposed industrial footprint of a LITAGION agent.
A three-dimensional representation of the probability, severity and duration or time dimension of catastrophic liability risk. The Nekomodel is a generalization of a conventional catastrophe model which describes only severity and probability. Low probability, high severity events are referred to as tail risk, and by extension, low probability, high severity, long duration events are two-tailed risk. The name is derived from Nekomata, a two-tailed man-eating cat in Japanese mythology.
Praedicat’s second product, OORTFOLIO, quantifies the financial risk of future mass litigation. OORTFOLIO combines companies into portfolios to characterize aggregation risk for insurers and reinsurers and estimates the impact of different triggers, limits and attachment points.
A summary visualization of the risk associated with a LITAGION agent. It captures five dimensions of risk: general causation risk, specific causation risk, dynamics risk, size risk, and clash risk.
A summary visualization of the LITAGION agents associated with a particular industry.
The ease of associating a particular damage or harm with a LITAGION agent exposure, such as mesothelioma's association with asbestos exposure.
An index or score intended to capture the potential size of a mass litigation based upon a LITAGION agent if it were to occur. Commercial activities with a larger body of scientific evidence are weighted more heavily so that smaller, less mature and more uncertain hypotheses with large numbers of plaintiffs do not dominate the index.
A score reflecting the risk that a court of law would find that liability for a harm or damage can be assigned to a specific defendant given that general causation is established.
A summary visualization of the liability risk associated with the LITAGION agent drivers for a harm or damage.