Insurance Industry May Be Running Low on Asbestos Claim Reserves

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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.

Sponsored by Cappolino, Dodd, Krebs, LLP, serving clients nationwide.

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