Hi, All: in the chapter 7 practice question 1, it is asking about how large losses & cat losses arise for employer's liability. should asbestos / similar claims arise from industrial disease to be classified as large claim or cat losses (can asbestos to be classified as "man-made cat peril"? ) thanks
There's no hard and fast rule about how to classify 'large', 'cat' or 'man-made'. It's all subjective.