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Article: Asbestos Exposures to Cost U.S. Insurers $200 Billion.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 13, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. 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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Environmental News Network, Sun Valley, Idaho Knight Ridder/Tribune Business News
Jun. 13--Asbestos has overtaken environmental liabilities including claims from exposure to hazardous waste sites in terms of net cost to U.S. property and casualty insurers.
Settlements to individuals exposed to asbestos in the United States and related expenses will ultimately reach $200 billion, according to a study conducted by Tillinghast-Towers Perrin, an actuarial and management consulting firm to the financial services industry.
Of this amount, Tillinghast estimates that 39 percent of the costs will fall on the asbestos defendants, such as manufacturers ...