Insurance Industry May Be Running Low on Asbestos Claim Reserves


The U.S. insurance industry could be as much as $9 billion short of the reserves it needs to pay asbestos lawsuit claims in the future.

CNBC news reported earlier this month that insurers have paid about $53 billion in asbestos claims to this point and have about $23 billion in reserves. The insurance industry could suffer total losses of about $85 billion, meaning there may not be enough money reserved, according to the news outlet.

However, it should also be noted that Fitch Ratings said the shortfall could be as low as $2 billion, depending on future claim amounts.

If you are suffering from mesothelioma, you should attempt to make a claim now. Companies who produced asbestos-containing products and their insurers can be held liable for this form of cancer, which aggressively attacks the membrane that covers the internal organs of the body.

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