Legal Reform

Asbestos Litigation Reform

Issue
While the incidence of asbestos-related illness stemming from the prior use of asbestos is declining, asbestos-related litigation continues to reach crisis proportions. U.S. businesses have paid injury claims totaling an estimated $70 billion. Liability may eventually reach as high as $200 billion as personal injury lawyers continue to press questionable claims, while plaintiffs who are sick and genuinely need help face continued delays because of drawn-out litigation.

During the 109th Congress, the Senate worked to pass legislation — the Fairness in Asbestos Injury Resolution Act (FAIR) — that would have created a trust fund to compensate asbestos victims and bring to an end the runaway lawsuits that are crippling businesses and denying victims fair compensation. The fund would have taken in an estimated $140 billion: $90 billion from companies that are defendants in asbestos lawsuits, $46 billion from insurance companies, and $4 billion from trusts established by now-bankrupt companies.

ACEC Position
ACEC strongly supports the passage of the FAIR Act to resolve the asbestos litigation crisis.