If the asbestos material is in good shape and will not be disturbed, do nothing! If it is a problem, there are two types of corrections: repair and removal.
REPAIR usually involves either sealing or covering asbestos material.
Sealing (encapsulation) involves treating the material with a sealant that either binds the asbestos fibers together or coats the material so fibers are not released. Pipe, furnace, and boiler insulation can sometimes be repaired this way. This should be done only by a professional trained to handle asbestos safely.
Covering (enclosure) involves placing something over or around the material that contains asbestos to prevent release of fibers. Exposed insulated piping may be covered with a protective wrap or jacket.
With any type of repair, the asbestos remains in place. Repair is usually cheaper than removal, but it may make later removal of asbestos, if necessary, more difficult and costly. Repairs can either be major or minor.
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