Insurers may be underestimating their exposure to a coming "third wave of asbestos liabilities" by relying on outdated assumptions and not accounting for factors such as longer life expectancy and advances in medical knowledge, a research firm says.
In a January briefing, Assured Research, a research and analysis firm for insurance and investment professionals, states, "Some insurers have bravely, or naively, reported that the asbestos environment is little changed in recent years. We disagree."
The firm argues that an "evolving body of medical literature" combined with shifting societal and media trends point to "a third wave of serious asbestos claims that will likely stain the financial results of insurers for years to come."
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