Lucky insurers. Insolvency of companies will protect lots of insurers and reinsurers from significant costs
Link: http://www.telegraph.co.uk/health/women_shealth/8999936/The-breast-implant-scandal-strips-away-the-glossy-euphemisms-of-cosmetic-surgery.html
Commentary:
Insolvency is great news for some insurers. The product liability insurers should be very relieved at the moment. At the moment Cosmetic surgery companies are being pressurised into redressing the situation - removing implants.
What are the problems and issues?
However who should pay and how long have the companies got?
In other words to what extent is this an operational research problem and to what extent is this an actuarial problem?
Are there insurers who can pick up the company tabs?
What order should the implants be removed? FIFO or some sort of triage?
Further down the link, one way to manage reputational risk is to get a proper typist or what used to be called by the masses a secretary and don't let others tweet sincerity/remorse/praise on your behalf.
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