When Insurers Can Object To Asbestos Trusts ...

Law360, New York (November 30, 2011, 6:22 PM EST) -- An article by the National Underwriter Company discusses a recent Moody's report that asbestos claims are again on the rise after years of declining or flat claims.[1] This has led several insurers to increase their asbestos reserves, and Moody's views this trend as a warning flag for the property and casualty insurance industry as a whole.

One major means of addressing asbestos claims has been through an asbestos settlement trust implemented under section 524(g) of the United States Bankruptcy Code.

These trusts are typically funded by insurance recoveries assigned to the trusts by a debtor in a Chapter 11 bankruptcy case....

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