ABSTRACT
Liability insurance is an important mechanism for transferring risk and reducing the uncertainty of loss; it is an integral part of our society. Business and industry could not safely function without the financial protection it affords and, without liability insurance, injured third parties might not have a source of recovery. In short, it is a critical element of our modern, high-tech world. And yet the availability of quality liability insurance has become a major problem for the asbestos abatement contracting industry and all those potentially affected by the removal of asbestos from buildings. The asbestos products liability litigation and related insurance coverage disputes have been the source for numerous books, articles, addresses, and seminars. However, without completely reexamining an already well-examined subject, it is important to consider this litigation within the context of the general avoidance by the insurance industry of the asbestos abatement liability insurance marketplace.
