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Technical Report: Claims - Points of concern.
(From Reinsurance)
Byline: Patricia Vowinkel.
A new storm is brewing over reinsurance claims for asbestos and other toxic torts.
Policyholders, under fire from plaintiff's attorneys, are combing through old insurance policies to find any coverages they have not already used and that might arguably apply.
Insurers, faced with the threat of a new round of big losses on asbestos claims, want their reinsurers to help them pick up the tab. But reinsurers are likely to argue the reinsurance contracts do not respond.
With billions of dollars at stake, disputes between ceding companies and their reinsurers on asbestos claims are ...
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