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Issues: Asbestos Litigation Reform
Many Americans have suffered or will in the future suffer health problems resulting from exposure to asbestos. It can take many years for any disease caused by asbestos exposure to manifest itself, and illnesses can range widely, from minor breathing impairment to death from mesothelioma. The projected cost to compensate Americans with health problems resulting from asbestos is estimated to be hundreds of billions of dollars. Most of the companies which manufactured asbestos have already been bankrupted by the number of lawsuits brought by those with actual health problems, and even by those who have been exposed and who are still healthy but fear future health problems resulting from asbestos. Many more companies which handled these products are now being brought into court and are threatened with bankruptcy from such lawsuits. Victims who become ill in the future may well be unable to recover even the cost of their medical treatment. In addition, hundreds of thousands of jobs will be lost as these companies fail. Nebraska’s Senator Ben Nelson has cosponsored legislation (S.2290) which would establish a trust fund to pay future claims of those who become ill as a result of exposure to asbestos. The fund would be financed by contributions from companies which are or may be liable for the exposure and their insurance carriers. The Senate has wrestled with the issue of asbestos litigation reform for several years, and Senator Nelson has been in the forefront of negotiations to enact this important relief for asbestos victims. |
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Asbestos is a heat-resistant material widely used in buildings, ships, boilers, mechanical equipment, and in a variety of other uses prior to the 1970s, when its use was strictly curtailed due to its adverse health effects. 