Two decades after Integrity Insurance Co. of New Jersey was declared insolvent and put into liquidation, its insureds are still being hit with claims from former workers as they fall ill to asbestosis caused by products they made or used.
That means that reinsurers, among whom Integrity spread the risk, could face billions of dollars in “incurred but not reported” (IBNR) claims for decades to come, if the New Jersey Department of Banking and Insurance has its way.
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