Major Conclusions and Actions Taken
Unfavorable trends both in the industry and at the Company necessitated a thorough review of asbestos liabilities
- Study announced and initiated at the end of third quarter 2002
-
Reviewed past settlements, all active asbestos policyholders (approximately 1,100) and litigation cases for potential product and “non-product” liability
Study based on our analysis of current trends – no assumption of favorable legislation
Methodology reviewed by an internationally known independent actuarial firm
“Travelers approach is thorough, comprehensive and constitutes industry ‘best practice’.”