Liberty Mutual Reports on Asbestos Exposure

Liberty Mutual Group on Thursday announced that an external review of the insurer's abestos exposure came back with a favorable outlook. "The company's asbestos exposure will be shorter tailed than many commercial insurers'," consulting acturaries noted, "because the company mainly wrote primary coverage and also benefited from several manuscript policy provisions that reduced loss limits available to pay asbestos claims." The external review resulted in an indicated reserve that was approximately $60 million above the company's carried reserves as of Sept. 30. The primary area of differenc...