How Much Will Silica Claims Cost Insurers?
How much will commercial liability insurers ultimately end up paying out on silica-related claims? So far, the usual experts involved in asbestos analysis aren't willing to hazard a guess, and even the number of claims that individual insurers already have had reported to them remains a well-guarded secret.
The first mention of silica-related exposure by an insurance company that National Underwriter is aware of came during an early 2003 investor conference call for Chicago-based CNA. Asked about asbestos litigation trends at that point, Jonathan Kantor, general counsel for CNA, responded that in addition to asbestos claims trends, his company was looking “very carefully” at silica.
“We have seen quite a bit of activity in the area of silica. It is obviously not asbestos, but it is considered part of our mass tort book. So stay tuned for developments there,” he said.
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