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FacWorld Report - March/April 2002
FacWorld Report - March/April 2002
Happy Spring! Welcome back to the FacWorld Report. This issue we're serving up a dessert of toxic tort(e) a la mode and feature several articles and updates on
Asbestos,
Mold,
Lead,
and
Pollution
.
In addition we showcase the
FacWorld Glossary of Reinsurance Terms
and pick your brain on how many US companies have a AAA rating from Moody's in our
"I've always wondered about..."
section.
Most of these articles require Adobe Acrobat to view. If you do not have Adobe Acrobat Reader, please click on the link below to download the reader.
Adobe Acrobat Download
Asbestos II
The Sequel to the Original Asbestos Thriller. And like all good sequels, the villain you thought was killed in the first movie is back, and with a vengeance.
The first of 3 asbestos articles we feature this issue includes a discussion of how asbestos can contaminate new businesses and expose new policies as well an examination of "peripheral" defendants and asbestos exclusions.
Asbestos Reemergence I
Our second asbestos article focuses on the growing cost and origin of past asbestos exposures, touching on "peripheral" defendants and plaintiffs with less serious or nonmalignant injury, as well as the impact of asbestos on claims departments.
Asbestos Reemergence II
We conclude our asbestos section with an article that discusses how a recent California trial court decision, holding that bankruptcy estimates of future asbestos claims are covered in a CGL policy now, may accelerate claims and affect umbrella and excess carriers.
California Asbestos Decision
Mold
Mold claims are on the rise. This piece breaks down the number of mold claims through February, 2002 by US State and by year. Also included is a useful color-coded map indicating which states have seen litigation and awards against contractors, building owners and/or property managers
Mold Claims
Lead
Average lead awards have more than doubled in the last two years and over 40% of adjudicated cases have resulted in awards of over $1,000,000. This update includes brief summaries of large lead verdicts and settlements in various U. S. states as well as Austria, Australia, and Great Britain.
Lead Awards
Pollution
Our first pollution newsletter is a comprehensive review of many pollution and toxic tort claims from the second half of 2001. Claim descriptions are organized by category (Contaminated Sites, Spills, Asbestos, etc.) and represent 50 pages of everything you'd ever want to know about pollution and toxic tort claims.
Pollution News Review
Recently the viability of various pollution exclusions has been addressed in several state courts. Below are links to ruling summaries and their potential impact on the insurance industry.
Ohio
Vermont
Indiana
Louisiana
Check out FacWorld's Pollution Homepage for recent articles as well as monthly updates on various international and U. S. pollution litigation.
Pollution Homepage
For more information on pollution and toxic tort developments, you can email Charlie Kingdollar at
ckingdol@gcr.com
or contact your local GeneralCologne Re office.
FacWorld Feature of the Month:
Glossary
This useful tool has common insurance and reinsurance terms and abbreviations as well as a section dedicated entirely to Environmental and Pollution acronyms.
Glossary
Environmental Acronyms
"I've always wondered about..."
How many US companies have a AAA credit rating from Moody's?
See the answer
HERE
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Ask FacWorld
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