Expected Asbestos Losses For Insurers Climb By $10B

Law360, New York (December 17, 2012, 9:05 PM EST) -- U.S. property and casualty insurers could wind up shelling out $10 billion more than expected in asbestos losses, bringing the total estimated losses for those claims up to $85 billion, according to a recent report.

In a report released last week, insurance rating and information company A.M. Best Co. drastically raised its estimates for how much insurers face in net ultimate asbestos losses, saying the plaintiffs bar had eroded some tort reforms and been able to score higher judgments for more serious mesothelioma cases.

"With no...
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