The first question that must be asked is how many hundreds of millions or billions of dollars has the industry collected, and what has it paid in losses? They certainly have the figures. The industry and its “leaders” are too anxious to renew the program, so it must be a huge plus for the carriers. And while I agree it is difficult to estimate potential claims, the industry too often wants too much prior loss experience- to the point where predictability is virtually guaranteed – such as it now is with almost all other forms of insurance and types of claims.
The first question that must be asked is how many hundreds of millions or billions of dollars has the industry collected, and what has it paid in losses? They certainly have the figures. The industry and its “leaders” are too anxious to renew the program, so it must be a huge plus for the carriers. And while I agree it is difficult to estimate potential claims, the industry too often wants too much prior loss experience- to the point where predictability is virtually guaranteed – such as it now is with almost all other forms of insurance and types of claims.