In a sign that indicates positive news for those looking to the stock market in the wake of the Chinese drywall problem, Travelers Insurance has shown limited exposure to the faulty import market. According to the Nasdaq news line, the company has only seen a little over 50 claims tied to the toxic wallboard.
The site reports
Travelers Cos. (TRV), the insurer of businesses, homes and cars, said Friday its customers have reported 52 claims tied to faulty drywall manufactured in China.
The insurer said it has no direct liability exposure to the companies that made the drywall, and no general liability policies on 37 of the 38 major public residential contractors in the U.S. Both the makers of the drywall and the contractors have faced a flood of lawsuits over the defective product. The 52 claims to date aren’t considered significant, Travelers said in a slideshow prepared for a conference call with analysts and investors.
While this might not seem too significant for homeowners, the fact that such a major company is not facing problems means less pressure on the government by those with big pockets on the matter. While one would believe the government would work for the greater interest, the less money being spent to face the issue is better. What’s more, this would also imply that less people have been harmed. By this, any less suffering is better.
The complexities in Chinese drywall are numerous and vary widely. As seen in our section dedicated to the matter, a variety of defenses are being utilized by the distributors and manufacturers of the faulty product. It is important for those affected to contact experts in a variety of fields, be it medical or legal, in order to move forward in what is becoming quite a confusing and difficult issue.
Should you see damage to a variety of appliances or problems with the health of any residents in your home, do not wait in contacting specialists in the matter. Our attorneys would happily discuss your rights with you while helping you handle any matters dealing with this issue. Time is of the essence in matters not only dealing with the health of those who might be living in a home with Chinese drywall installed but also because of time limits that exist with litigation.