wjw0006
Expert
I've been reading about how many of the "names" at Lloyds ended up paying out extraordinary amounts in the 70's and 80's. I understand that many policies that were active at the time ended up paying out huge awards for asbestos cases decades and decades later....
I cannot seem to follow the money trail though. Who ended up eating all these losses that were not realized until decades later? What if any effect did that have on current rates today?
I searched but could not find any threads on this. If this was posted in the wrong forum then I apologize. Anyone that has been in the business for a while know anything about this?
I cannot seem to follow the money trail though. Who ended up eating all these losses that were not realized until decades later? What if any effect did that have on current rates today?
I searched but could not find any threads on this. If this was posted in the wrong forum then I apologize. Anyone that has been in the business for a while know anything about this?