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For some time now there have been two dirty words in the casualty market lexicon. The first is, of course, asbestos, which even in the second decade of the 21st century continues to wag its outrageously long tail, with coverage disputes springing up and the US plaintiff bar still sniffing out opportunities.

The other dirty word is environmental, which for years was seen as embracing a plethora of long-tail exposures on a potentially crippling scale. If anything, though, the reputation...

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