A&E Loss Payouts on the Rise; Reserves Will Run Off in 8 Years December 20, 2023 A new AM Best segment report details asbestos and environmental (A&E) losses and reserve decline through the end of 2022....
AM Best’s Estimates for U.S. Insurers’ Asbestos & Environmental Losses Unchanged October 22, 2020 AM Best said its estimates of $100 billion in asbestos losses and $46 billion in environmental losses for the U.S....
The Hartford Signs $1.5 Billion Reinsurance Deal Covering Asbestos Liability January 3, 2017 The Hartford has signed a reinsurance agreement effective Dec. 31, 2016 with National Indemnity Co. (NICO), a subsidiary of Berkshire...
Former New Jersey Lawyer Gets 2 Years for Falsifying Asbestos Suits May 9, 2016 A former New Jersey lawyer has been sentenced to serve two years in federal prison after admitting he fraudulently added...
U.S. Insurers Still Funding Asbestos, Environmental Liabilities: A.M. Best January 5, 2015 The current estimate of net asbestos losses for the U.S. property/casualty industry remains at $85 billion, with net environmental losses...
Liberty Mutual Inks Reinsurance Deal with Berkshire’s National Indemnity July 18, 2014 By Noah Buhayar Liberty Mutual Insurance said it has reached a deal with National Indemnity Co. (NICO), a subsidiary of Berkshire Hathaway Inc.,...
Best Upgrades Ratings for Most ACE Limited Subsidiaries; Outlooks Stable April 15, 2014 A.M. Best has upgraded the financial strength rating (FSR) to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit ratings...
Insurers’ Annual Incurred A&E Losses Rose 12% in 2012: A.M. Best November 6, 2013 While generally not a material drag on the U.S. property/casualty industry’s earnings, industry losses from asbestos and environmental (A&E) claims...