NU Online News Service, June 5, 2:23 p.m. EDT

BROOKLYN N.Y.–Prior calculations of the U.S. property-casualty insurance industry’s ultimate exposure to asbestos claims have probably underestimated the amount by $10-to-$15 billion, an actuary predicted.

Noting, however, that the deficiency will be recognized over a long period, Raji Bhagavatula, a principal for Milliman who is well known for her work in analyzing asbestos reserves, said this development is not going to be a shocking event for the industry.

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