Expanded Methodology
Establishment of Senior Management Asbestos Committee in 2Q02
Segmentation of exposure and claim payment patterns by policyholder categories
Examination of payments by year of first notice
Detailed analysis of policyholders tendering first claim in recent years
Extensive examination of potential “non-product” exposures and new theories
Analysis of recent industry events
- Recent settlements – For example: PPG, Western MacArthur, Sealed Air, Halliburton
- New bankruptcies
- Mass consolidations
Expanded use of outside information
- Analysis of all asbestos related bankruptcies and other high profile defendants
- Evaluation of industry studies on ultimate size of asbestos exposure to insurance industry
Use of internationally known actuarial firm to review methodology