Over 750 Clash Events and Catastrophes
Within Advisen's Large Loss database of 30,000 entries are now over 750 Related Cases. These Clash Events and Catastrophes are incidents where two or more Large Loss entries are linked to a single underlying cause. Some are CLASH situations, some are CATASTROPHES, others are just good examples of BAD THINGS happening in clusters. While we debate the terms of clash vs. catastrophe, if macro situations with names like Enron, Madoff, Refco, PCB contamination, Vioxx, Subprime, etc., torment or threaten your book of business, you should find our fully-indexed and detailed listing of over 750 Related Events extremely useful.
CLASH vs. CATASTROPHE
Academics argue that the nature of a Clash event is a supreme insurance debacle. Clash events act like the concentric waves that ripple in a pond away from where you threw out a stone. On the other hand, others suggest that true insurance calamities stem from Catastrophes. Our visual image of catastrophe is more like a falling line of dominos to suggest a linear string of cause & effect events. Not willing to take a stand as the debate rages, Advisen is agnostic. Dave Bradford, an Advisen co-founder and Head of Advisen's Research & Editorial teams, explains that "we just look for a connection - in almost any dimension - between two or more large losses. If we find that connection, we link the cases in our database and we label them 'Related.' It's just that simple."
WHAT DEFINES A RELATED CASE?
Something big & bad happened, and subsequently some people had bad results with bad repercussions. You frequently read about Related Cases in the newspaper or on Advisen's Front Page News daily e-mail. Accordingly, a Related Case amidst our Large Loss database takes on many forms. Here are some Related Case examples.
- Events
- Big Dig Tunnel Collapse
- World Trade Center Sept 11, 2001
- Exxon Valdez spill
- Products
- Fujitsu hard drive defect
- Vioxx
- Fen-Phen
- Misbehaving Companies and/or People
- Madoff
- Stanford Group Ponzi scheme
- Enron
- Adelphia Communications
- Industry-wide Practices
- Subprime Lending and Credit Crisis
- Contingent Commissions
- Stock options grants
- Unpaid overtime
WHO CARES ABOUT CLASH EVENTS?
Insurers seek to protect themselves against a confluence of bad events. For Reinsurers writing professional liability or casualty treaties, a list of companies being sued can be very helpful. Cedents don't always point out which of their insureds are being sued, and a current list is hard to acquire. Clash events are crucial for Reinsurers and Cedents alike to see aggregate exposures, so within our database of 30,000 Large Losses, we link together events with a common causation or root.
If you are responsible for Risk Management or Corporate Governance issues, you may find MSCAd's Related Cases to be an essential tool of aggregating corporate risk and exposures, too. MSCAd's Related Case data illustrates the magnitude of practices like Market Timing Trading Violations or Biased Research.
THE ADVISEN DIFFERENCE
The 30,000 loss events entered into Advisen's MSCAd are a unique resource. We do not beat around the bush; we name names. We tell you the identity of the companies, the claimants, the plaintiffs, and their lawyers. We source all of our materials and we provide links to supporting docs such as copies of complaints. If we know the insurers and the insured amounts, we print them.
All MSCAd data is linked to Advisen's company database of 13 million entities. That means that we can relate all of our data to market caps, OSHA violations, Federal litigation, and dozens of other company-specific data. If you have a custom loss model that combines data about insureds with loss information, look to Advisen for a tremendous ability to refresh your data and expand your model's applications.
MSCAd, ADVISEN'S LARGE LOSS DATABASE
Selling, buying or writing coverage is easier when you have 30,000 large loss examples at your fingertips. The Advisen Large Loss database totals $900 billion and covers cases that are Securities, Recalls, Product & Services, Employment, Professional Services, Cyber and more. Beyond actual judgments, settlements, insurance payouts, events and other determinations of liability, MSCAd also includes estimates or projections of potential losses as well as dismissed cases.
Use MSCAd to identify uninsured or underinsured exposures for your company, your clients, or within your portfolio. Justify higher limits by filtering our list to find the exact set that meets your criteria. Use this database to see which large losses might trip your new policy language, too.
NOW OVER 30,000 LARGE LOSSES for $900 BILLION IN LOSS
Show case examples by category (eg cyber, employment, securities), cause (eg explosions, fire), company size (eg for market caps $1B - $2B), coverage type (eg D&O, Professional Liability), or sort by dozens of other filters. Search this database by keyword (eg location, court, defendant) or by SIC code or industry. Track trends within industries and geographical locations to gain a wider understanding of the likely exposure, from which appropriate terms, cover and price can be driven through the underwriting and broking process.
BENCHMARK PAIN
Nothing helps to make your case better for higher limits than specific examples of losses that tripped up peer companies
Why do companies buy Side A D&O coverage? MSCAd shows you a list of 398 Derivative Shareholder Actions, and the top five items on this list exceed $1.1B combined.
How big could an ERISA Class Action event become? Of the 150 items in MSCAd, the Time Warner $100M event is the largest.
Advisen's Benchmarking tool shows what limits companies buy; our Large Loss database illustrates why those companies purchase those limit levels. Our data demonstrates the pain other companies have experienced. Export data to Word, download copies of complaints, and graph groups of related cases. Make your limits case by showing the pain.
NEED JUST ONE OF 30,000?
If you don't have Advisen.com, you can still buy MSCAd one case at a time at the Advisen Corner. Visit http://corner.advisen.com/analytics_mscad.html , click on Analytics, and tell us which specific cases you need. We'll bill your credit card for each search and for each case download you want to purchase.
NEED ALL OF OUR DATA TO FUEL YOUR PROPRIETARY MODELS?
Several Insurance Companies (and some Reinsurers and Brokers, too) are using Advisen MSCAd data as a component of their proprietary models and predictive engines. Advisen offers regular extraction files combined and/or downloads of hundreds of other company demographic and financial data point values so you can focus on the development work that sets your company apart. Gathering data and assembling it for use is our job.
JOIN THE CLASH EVENTS DISCUSSION GROUP
We've started a new discussion group on www.linkedin.com for Clash Events and Catastrophe Insurance. The members of this LinkedIn group are Insurers & Reinsurers and other commercial insurance professionals who follow Casualty Clash & Catastrophe situations eg Enron, Madoff, Subprime, 9/11, Vioxx, contaminations, etc. The focus here is Large Loss. To join the group, log into LinkedIn, Search Groups for "Clash" and request to Join the Group.
NEED ASSISTANCE?
To access Advisen's MSCAd, click on the Losses & Exposures dropdown menu and select MSCAd (Cases & Actions). If you'd like a free copy of our MSCAd QuickStart Guide, just let us know.
Contact us and we will walk you through MSCAd to find the right selection of losses for your situation. Reach your Advisen rep at [email protected].
