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The Actuary The magazine of the Institute & Faculty of Actuaries

Asbestos and insurance payouts

The long-running issue of large payouts by insurers in relation to coverage of asbestos-related disease led to a difficult Court of Appeal judgment last month. Addressing the issue of whether or not the insurer responsible was that at the time of exposure or at the time of onset of symptoms, they decided that in some cases the latter applied. The impact is likely to be a great deal more uncertainty as to where liability lies and greater lengths of time before settlements are reached in relation to a disease where decades can pass between exposure and illness.