The Institute and Faculty of Actuaries UK Asbestos Working Party update 2020 sets out the methodology and assumptions used to estimate the potential cost of asbestos-related claims to the UK Employers’ Liability Insurance Market. The Working Party has estimated the UK EL Insurance Market cost for the following asbestos-related disease types: mesothelioma, lung cancer, asbestosis and pleural thickening, and pleural plaques. For each disease type the Working Party has constructed a range of scenarios to highlight the uncertainty of these estimates. The Working Party reminds practitioners that use the Working Party scenarios that they should always consider the experience and trends that have occurred since the scenarios were published, adjusting the scenarios to take into account new information.
