Not out of the woods
Article Abstract:
A.M. Best Co. has lowered down its estimate of the property and casualty insurance industry's ultimate abbestos and environmental (A&E) liabilities roughly by 10% in the 1996 survey. Such reduction reveals more favorable settlement trends and policy buyback strategies coming from federally designated National Priority List (NPL) waste sites. Aside from this, insurers could still experience increase in claims coming from other sites that are not on the NPL. A.M. Best however, expects that the industry will continue to fund its unrecognized A&E liabilities.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1997
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Insurers chip away at E&A liabilities
Article Abstract:
An A.M. Best Co forecast of the property and casualty insurance industry's environmental and asbestos (E&A) liability reserves predicts that the industry will increase its E&A reserves in 1995 and 1996 by $4 billion and $2 billion, respectively. After incurring E&A losses in 1994 and 1995 of $4.5 billion and $10 billion, respectively, the industry should find that its E&A liabilities become more manageable in 1996, thus necessitating lower reserves.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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P/C industry accelerates recognition of E&A liabilities
Article Abstract:
An A.M. Best Co forecast of the property and casualty insurance industry's environmental and asbestos (E&A) liability reserves predicts that the industry will increase its E&A reserves in 1995 and 1996 by $4 billion and $2 billion, respectively. The industry will increase its environmental reserves in 1995 and 1996 by 60% and 21%, respectively, and it will increase its asbestos reserves in 1995 and 1996 by 32% and 14%, respectively.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Comment about this article or add new information about this topic:
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