Throughout the past few years, increasing controversy and debate has surrounded an asbestos bill that would reform the current asbestos litigation system. Currently those who have suffered from mesothelioma or other serious conditions resulting from asbestos exposure can file an asbestos lawsuit to seek compensation for their losses.
Under the new asbestos bill, victims would no longer be eligible to file individual lawsuits. Instead, a $140 billion private trust fund, financed by insurance companies and defendants involved in asbestos litigation, would be created to compensate those who have suffered serious illnesses and conditions from asbestos exposure. The Fairness in Asbestos Injury Resolution Act could prevent you and your loved ones from exercising your legal rights.
The Fairness in Asbestos Injury Resolution Act of 2006 (The "FAIR Act")
The asbestos bill, which was introduced on the Senate floor three years ago, has been through a number of amendments to address various issues and concerns surrounding the proposed legislation. While proponents of the asbestos bill claim that the new trust fund would ensure prompt recovery for injured claimants, it could potentially deny many people the full compensation they deserve.
The FAIR Act asbestos bill, if passed, will require claimants to meet stronger medical criteria in order to receive compensation. In addition, the asbestos bill would prevent asbestos manufacturers and other defendants from being punished for their wrongdoing. For example, companies that would be ordered to pay billions of dollars in asbestos lawsuits under today's laws would only be required to pay millions for the asbestos bill trust fund, thus largely skirting liability for their reckless negligence in allowing people to be exposed to asbestos.
The FAIR Act would ultimately prove to be unfair for thousands of people who have suffered from mesothelioma or other serious illnesses due to asbestos exposure.
To learn more information about the recent asbestos bill, please contact us today to speak to a qualified and experienced attorney who will protect your legal rights and maximize your options. If you or a loved one has developed mesothelioma or another serious asbestos-related injury, financial assistance may be available, our attorneys are available to evaluate your case to determine the best way to protect your interests.