AM Best said its estimates of $100 billion in asbestos losses and $46 billion in environmental losses for the U.S. property/casualty industry remain unchanged as of year-end 2019. In a report, AM Best notes that A&E loss reserves have declined …
While U.S. asbestos-related incurred losses dropped in 2016, property/casualty insurers’ payments for asbestos claims grew 9 percent and hit $3.2 billion for the year, a new A.M. Best report concludes. The $3.2 billion figure exceeds the long-term average of $2.4 …
Net ultimate asbestos losses for the U.S. property/casualty industry have risen once again. They’re now at $100 billion, and that’s $15 billion higher than the previous estimate, according to a new A.M. Best report. A number of factors appear to …
While generally not a material drag on the U.S. property/casualty industry’s earnings, industry losses from asbestos and environmental (A&E) claims resumed an upward climb in 2012, according to a new A.M. Best Co. report. The report said annual incurred A&E …
An asbestos company is not liable for an illness suffered by a woman who became exposed to the hazardous material while doing her grandfather’s laundry in the 1960s, Maryland’s highest court ruled Monday. The Court of Appeals ruled that Georgia-Pacific …
More than 100 workers are alleging that long-term exposure to asbestos at Nassau Coliseum has made them seriously ill. The plaintiffs represent current and former employees of the county-owned arena. They include electricians and carpenters who worked as independent contractors. …
Insurance rating firm A.M. Best this week raised to $85 billion its estimate for losses that U.S. property and casualty insurers can ultimately expect from lawsuits brought by victims of asbestos exposure. Best, the major rater of insurance companies, raised …
As it warned earlier, Hartford Financial Services Group saw its profit fall in the second quarter due to large catastrophe losses and a charge to increase asbestos reserves. Overall, The Hartford reported a net profit of $24 million for the …
Hartford Financial Services Group Wednesday warned it will badly miss second-quarter expectations after severe losses on natural disasters and a charge to increase its asbestos reserves. Hartford, one of three insurers to receive a government bailout during the financial crisis, …
