Although nine insurer groups experienced asbestos and environmental (A&E) losses of at least $100 million during 2009, up from six groups in 2008, the increase is still “manageable,” notes A.M. Best.
In a special report, “U.S. Asbestos & Environmental Liabilities,” the rating agency notes that losses jumped approximately 50% in 2009 after a 47% decline in 2008. Aggregate industry funding for A&E liabilities increased by more than $4 billion over the past two years.
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