Data analysts have predicted that the three biggest long tail risks facing casualty insurance today are glyphosate, opioids and talcum powder, or GOT for short, not to be confused with hit series Game of Thrones, Intelligent Insurer reported Friday.
Emerging risk analysis firm Praedicat suggested that the substances could be “the next asbestos” in terms of costs for the insurance industry, at an event at Lloyd’s of London, where huge asbestos-related losses sent many Lloyd’s ‘names’ into financial ruin in the 1990s.
Referencing the GOT abbreviation and its coincidental link to the fantasy series, CEO Robert Reville asked attendees: “Is this the new winter of casualty?”
He also highlighted further substances to keep an eye on including BPA, DEHP and even sugar.
This is not the first time warnings have been made about the impact of herbicide glyphosate, addictive opioids and bathroom staple talcum powder on health.