The continuing flood of asbestos, hazardous waste and other mass tort claims has increasingly left general liability insurers stuck in the middle - between their policyholders on the one hand and their reinsurers on the other. This article discusses and illustrates that although the carrier will grapple with many issues...
As more and more insurers make significant adjustments to their reserves for asbestos-related losses, the analyses underlying those reserves are being scrutinized more closely than ever. Virtually all observers agree that, when the liabilities are likely to be material, an exposure-based analysis is necessary. Unlike benchmark measures, such as market...
Recently, the U.S. District Court for the Eastern District of Virginia ruled that a plaintiff failed to allege “physical injury” sufficient to state claims arising from exposure to asbestos. In a case of first impression under Virginia law, the Court also ruled that the claimant failed to state a claim...
The asbestos problem, initially recognized decades ago, is not going away. The pace of asbestos personal injury claims against defendants continues to rise, and the size and growth of these claims has led to numerous bankruptcies. Many believe the current legal system is ill-suited to handle asbestos personal injury claims...
The drumbeat for a Congressional solution to the asbestos crisis has never been louder. The reason for such noise is likely the result of several factors taking place simultaneously. While there is more than one possible national solution to the asbestos crisis currently being floated, the one garnering the most...
This paper considers the effect of asbestos claims on European based insurers and assesses the differences between the claims environment in the US and Europe. The report notes several important factors that will limit the exposure of commercial insurers to European based asbestos claims although such claims will still be...
Reinsurers have lost many billions of dollars as a result of the industrial use of asbestos since the 1950s. Hence, the major reinsurers have been aiming to implement a total asbestos exclusion since the Autumn of 2002. This is perhaps reasonable in principle, but it is certainly complex in practice....
"Many utilities already have been the focus of suits by employees of contractors and subcontractors who worked at generator plants that once contained asbestos insulation. Even though exposure to asbestos has decreased significantly since its peak in the early 1970s, the number of asbestos claims actually has increased dramatically in...
With U.S. state courts bogged down in asbestos-related lawsuits, Congress is again taking up reform. Many consider this long overdue. This paper depicts about a survey which finds that nearly 20% of the increase in tort costs in 2001 attributable to asbestos-related litigation. With more than 200,000 asbestos-related cases before...
This report explores emerging issues tied to asbestos claims for U.S. property/casualty insurers and reinsures. Following a relatively quiet period prior to 2001, asbestos reemerged last year as a major headline news item. This was due mainly to several major settlement announcements, claims re-openings and an influx of new claims,...
THE FAMILY of a man who died from asbestos poisoning has received EUR180,000 in compensation. Jim Crowe, from Co Clare, was employed as a senior clerk of works for the Haringey Council in London between 1972 and 1988 where he supervised workers stripping boilers lagged with...
Environmental consulting firms provide a wide range of services to help businesses create a healthy work site for their employees, comply with codes and regulations, and reduce their environmental footprint. For many businesses, environmental issues do not arise often enough to warrant hiring environmental engineers or other...
The Great Escape Life in the Cotswolds is enhanced no end by the presence of the fantastically rich. Exotic creatures that live in secret under big stones, normally only visible when on the move. Too many helicopters to count pass overhead each morning. It's astonishing. There has...
DALLAS, July 7 /PRNewswire/ -- Denyse Clancy, an attorney and shareholder with the Dallas-based law firm Baron & Budd, P.C., spoke at the International Mesothelioma Program's First Annual Harvard Medical School Course, entitled Surgery-Based Multimodality Therapy for Malignant Pleural Mesothelioma. The program was held in Dallas on June...
PALM CITY, Fla., July 2 /PRNewswire/ -- On June 25, 2008 the EPA concluded its week long test in Louisiana for disaster debris reduction by means of air curtain burners or air curtain incinerators. Air Burners, LLC made available one of its largest above ground S-327 fireboxes. The goal...
PARIS AFP — The asbestos-contaminated French aircraft carrier Clemenceau, which was towed to India in a failed bid to have it dismantled there, will be broken up in Britain, officials said Tuesday. Once a proud symbol of France's naval might, the ship will be broken up by a...
DALLAS, June 30 /PRNewswire/ -- Dallas-based Baron & Budd, P.C. has again been selected by The Legal 500 (http://www.legal500.com/) as one of the country's premier law firms in mass tort claims and class action litigation for the firm's work on toxic tort claims. The directory describes mass tort...
Shareholder Derivative Settlement Approved by West Virginia Court MOUNT PLEASANT, S.C. -- Plaintiffs' litigation firm Motley Rice LLC today announces court approval of a shareholder derivative settlement with Massey Energy Company (NYSE: MEE). Institutional shareholder Manville Personal Injury Settlement Trust Manville Trust commenced this action aiming to improve...
OXFORD, Miss. -- Richard "Dickie" Scruggs, who became one of the wealthiest civil lawsuit attorneys in the country by taking on tobacco, asbestos and insurance companies, was sentenced Friday to five years in prison for conspiring to bribe a judge. Scruggs, 62, nearly fainted as the judge...
WASHINGTON, June 24 /PRNewswire/ -- With a latency period of 10-50 years, and with millions of Americans at risk for mesothelioma, an asbestos-generated cancer, the ravages of this life ending disease continue to disrupt families and lives. The Meso Foundation is hosting a press conference with leadership, members of...
Articles 2008-06-24
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