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Litigation (Tables)
6 Months Ended
Jun. 30, 2018
Text Block [Abstract]  
Schedule of Loss Contingencies by Contingency

The following table reflects approximate information about the claims for Asbestos Liability against the subsidiaries and the Corporation for the six months ended June 30, 2018, and 2017 (claims not in thousands):

 

 

 

Six Months Ended June 30,

 

 

 

2018

 

 

2017

 

Total claims pending at the beginning of the period

 

 

6,907

 

 

 

6,618

 

New claims served

 

 

627

 

 

 

709

 

Claims dismissed

 

 

(198

)

 

 

(185

)

Claims settled

 

 

(190

)

 

 

(176

)

Total claims pending at the end of the period (1)

 

 

7,146

 

 

 

6,966

 

Gross settlement and defense costs (in 000’s)

 

$

12,446

 

 

$

12,266

 

Avg. gross settlement and defense costs per claim

   resolved (in 000’s)

 

$

32.08

 

 

$

33.98

 

 

 

(1)

Included as “open claims” are approximately 480 claims as of June 30, 2018, and 2017, classified in various jurisdictions as “inactive” or transferred to a state or federal judicial panel on multi-district litigation, commonly referred to as the MDL.

Summary of Activity in Asbestos Insurance Recoveries

The following table summarizes activity relating to insurance recoveries.

 

 

 

Six Months Ended June 30,

 

 

 

2018

 

 

2017

 

Insurance receivable – asbestos, beginning of the year

 

$

100,342

 

 

$

115,945

 

Settlement and defense costs paid by insurance carriers

 

 

(9,050

)

 

 

(9,009

)

Insurance receivable – asbestos, end of the period

 

$

91,292

 

 

$

106,936