ESTIMATED ASBESTOS LOSSES, 2002-2011

($ billions)

    Losses   
Year Beginning reserve Incurred (1) Paid Ending reserve (2)
2002 $12.9 $7.6 $2.0 $18.5
2003 18.3 6.5 2.2 22.5
2004 22.5 4.3 3.3 23.6
2005 23.6 3.6 2.3 24.9
2006 24.9 1.6 2.6 23.9
2007 23.9 2.5 2.6 23.8
2008 23.8 1.1 3.8 21.1
2009 21.1 2.0 2.1 21.0
2010 21.0 2.4 2.3 21.1
2011 21.1 1.8 1.7 21.2

(1) Incurred losses are losses related to events that have occurred, regardless of whether or not the claims have been paid. Includes loss adjustment expenses.
(2) Because of changes in the population of insurers reporting data each year, the beginning reserve may not equal the ending reserve of the prior year.

Source: ISO, a Verisk Analytics Company.