August 6, 2001-Asbestos Claims Not Catastrophic
A new wave of lawsuits by workers who have been exposed to asbestos but who show no sign of illness may impact the insurance industry to a much lesser extent than some analysts have speculated. Matthew Coyle, a director for S&P's Financial Services Department in New York, said that the agency expects only a modest number of downgrades to occur as a direct result of increased asbestos exposure.
Mr. Coyle added that S&P believes the industry's incremental reserve requirements, on a present-value basis, "are at the lower end" of the range of the $20 billion to $ 40 billion estimated in studies published by several industry observers.
In all asbestos cases it is essential that measures be taken promptly to preserve evidence, investigate the accident in question, and to enable physicians or other expert witnesses to thoroughly evaluate any injuries. If you or a loved one is a victim of injury caused by asbestos exposure, call now at or CLICK HERE TO SUBMIT A CASE FORM. The initial consultation is free of charge, and if we agree to accept your case, we will work on a contingent fee basis, which means we get paid for our services only if there is a monetary award or recovery of funds. Don't delay! You may have a valid claim and be entitled to compensation for your injuries, but a lawsuit must be filed before the statute of limitations expires.