The warning signs

The risk that a company may face compensation claims for exposure to asbestos is a nightmare scenario for investors since the potential damage is unquantifiable. Philip Moore looks at how investors and analysts are integrating asbestos, and other litigation, risk into their valuations

Have you heard the story of the two overexcited dogs, one British and one American? The British dog, belonging to the daughter of the Queen of England, takes it upon itself to attack and bite two children playing in the Windsor Great Park. The American animal, a trained police dog, also bites two members of the public in a fit of canine irrational exuberance. But in the American case, the bitten