Company Provides Asbestos Insurance -- MesoLink.org

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Company Provides Asbestos Insurance

March 12th, 2008

For the first time ever, companies in America will have the option of obtaining asbestos insurance. A Bermuda based company is focusing only on the underwriting of asbestos insurance policies.

St. George Re Limited is offering insurance in a niche market. The Bermuda based company is offering asbestos insurance for companies in America that need protection from lawsuits and expenses. The company is underwriting policies for asbestos insurance only, and clients can chose from two options of coverage. Asbestos-related lawsuits have cost more than $70 billion in America, and have put dozens of companies out of business through bankruptcy.

The insurance will be used for settling mesothelioma, asbestosis and other asbestos-related lawsuits against companies that utilize asbestos in any fashion. This is the first time ever that companies can obtain asbestos insurance without having to carry self-insurance or engaging in non-insurance contracts. It will also protect and assist in any asbestos litigation that may occur against its clients. Mesothelioma cases have been known to award victims millions of dollars in damages, and multiple lawsuits can often times destroy a company by forcing them into bankruptcy.

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