[Highland Park] asbestos found

I recently purchased a home in HP and come to find out while putting in a new boiler I have asbestos lining all of my hot water pipes in the basement.  My ASHI certified inspector never mentioned anything about this.  There are parts of the outer coating peeling off and I am worried for the safety of my young family. Do any of you guys have experience with this?  I mean the inspector did find asbestos in another part of the house and that was taken care of.  I feel really taken advantage of since I was not told about it. I need to remedy this.