Asbestos-related losses are now featuring more prominently in its analysis of US property and casualty insurers, says Moody's Investors Service - and this in turn will affect ratings.
In a special report on the impact of asbestos claims on creditworthiness, Moody's vice president William Wilt said: "We expect that the weight of paying asbestos claims will begin to appear more commonly as a rating driver, and that management of the problem will gain prominence in our credit reports and commentaries."
The report also said that underfunding of asbestos liabilities by insurance companies would probably be the main cause for a rating downgrade.
Moody's said this move was prompted by the ever-increasing number of businesses being affected by asbestos claims.
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