Asbestos Insurers' Reserve Policy Suggest Faulty Assumptions

New cases of asbestos-related diseases declined at an average annual rate of 1.8 percent between 1998 and 2008, according to the American Cancer Society. Large insurance companies have likewise reported steadily declining claims during the same period. America's largest insurance company, MetLife, reported claims declining 40 percent between 2003 and 2010. Despite these long-term trends, in 2011 several major insurers, most notably Hartford Financial and AIG, increased their reserves by hundreds of millions of dollars. The question many experts, litigants, and patients are asking is, Why?

Hartford Financial and AIG apparently constructed analytical models that failed to anticipate the number of "peripheral" asbestos victims - spouses and children of workers, contractors and operators who had secondary exposure to asbestos-based products - as well as the rising cost of asbestos-related medical treatments.

What do insurance reserve policies mean for you if you've been diagnosed with an asbestos-related disease? The answer may surprise you! To speak with the Fears | Nachawati experts in asbestos law call us at 1.866.705.7584 or email to info@fnlawfirm.com. The consultation is free! We're ready to help you.