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Article: A trail of toxic torts; Asbestos claims; Fresh asbestos trouble for insurers.(Finance and Economics)(Brief Article)
- Article from:
- The Economist (US)
- Article date:
- January 27, 2001
CopyrightCOPYRIGHT 2001 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ANOTHER act has begun in a show that most people thought had closed long ago: litigation over illnesses linked to exposure to asbestos, a fire-retardant. This month Chester Street Insurance, a British insurer, collapsed because of growing asbestos claims. Last year several high-profile insurers went under in America. It is now clear that this newest act has some way to go.
The first asbestos-related lawsuit was filed in 1966, in Beaumont, Texas. At first, claims were relatively small: personal-injury claims of workers at asbestos mines or manufacturing plants, for example. Then claims began against installers of asbestos products in buildings. In 1982 Johns ...