Mesothelioma Insurance Claims on the Rise
Insurance companies are seeing a rise in asbestos and mesothelioma insurance claims – even though the incidence of the disease has been gradually slowing. The Reuters News Agency is reporting that two major insurers – Hartford Financial and American International Group, Inc. (AIG) – have recently had to dramatically increase the amount of money they are holding in reserve for mesothelioma and other asbestos cases because of a higher number of claims in recent years. The shift in funds meant a $290 million shortfall in earnings for Hartford Financial, making investors nervous about the company’s stability. AIG worried its shareholders by moving $4.1 billion into its reserve fund. For decades before the link to mesothelioma and other illnesses was made known, asbestos…