Beware the PPO iceberg

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The award of periodical payment orders (PPOs) in the UK, as an alternative to lump sum settlement of large insurance claims, has increased in prevalence in recent years. Yet, the lessons learned from the relatively few cases on many companies’ books may only represent the tip of the iceberg due to the time span of liabilities involved and the wider operational implications.

PPOs by their very nature breed uncertainty (the future lifetime of a PPO claimant is on average 41 years).  How many property and casualty (P&C) insurers are accustomed to managing liabilities that might remain in place for several decades or taking into account factors, such as movements in overall life expectancy (and impaired mortality rates in particular)?

Senior speakers from Towers Watson will be examining the impact PPOs are having on general insurance business in the UK and taking a look at what we can learn from our investment, life and pensions practices.  Presentations will be followed by drinks and canapés.

If you require any further information regarding the event please contact Marie Bell on +44 1737 274517.