The history of asbestos litigation in the US dated back to the first asbestos lawsuit,which was filed during the late 1960s. In the late 1960s, asbestos victims filed legal actions against asbestos manufacturers and suppliers. Since then, asbestos lawsuits have increased significantly.
Significant Increase in Asbestos Claims during the 1980s
The increase in asbestos lawsuits has led to the formation of a trust to pay asbestos victims. It has also led to the reduction in benefits. A well-known Manville Trust decided to pay asbestos claims on a sliding scale. By doing this, claimants with less serious injuries will receive a lower compensation than claimants with more severe injuries that are caused by asbestos exposure.
Johns-Manville: The First Asbestos Defendant in the US
Many companies had to declare bankruptcy due to the large amount of claims brought against them. The first asbestos defendant was Johns-Manville, who later filed for chapter 11 bankruptcy in 1982. It was estimated that more than sixty companies have also filed for bankruptcy after the Manville bankruptcy filing. Many companies that filed for bankruptcy formed trusts for the payments of asbestos exposure of claimants.
Increase in Asbestos Claims
Asbestos claims are steadily increasing because it takes decades for symptoms to appear. In the 1970s, the federal government started to regulate the use of asbestos, which resulted in a decrease in asbestos use and asbestos exposure at job sites as well as in materials and products. The regulation helped to reduce the risk of asbestos exposure and asbestos-related illnesses such as asbestosis. However, there is a possibility of more mesothelioma victims for many years to come because the heaviest exposure to asbestos occurred many years ago and due to the long latency period, asbestos-related diseases such as mesothelioma and lung cancer may not appear until decades from time of exposure.
New Asbestos Lawsuits are helping to Re-evaluate Asbestos Claims
Most of the claims that were filed were for non-malignant illnesses. The claimants had no impairments when these claims were brought against the companies. Because of this, most of the trusts that were set up to pay victims of asbestos exposure were used to pay for less serious injuries instead of more severe injuries which may appear decades from now. So far, the courts and the parties involved have not determined a set settlement and treatment of asbestos lawsuits. New lawsuits are helping to reshape how asbestos claims are handled and the appropriate settlement amounts.
Asbestos Attorney Can Help With Asbestos-related Claims
If you have been exposed to asbestos and are suffering from mesothelioma or any asbestos-related illnesses, contact an experienced asbestos attorney immediately. Attorneys that have experience with asbestos-related diseases, such as mesothelioma, lung cancer and asbestosis, and have helped many mesothelioma victims by obtaining monetary compensation, can help you as well. Get in touch with a mesothelioma attorney today and find the help you deserve!
Tags: Asbestos Exposure, Asbestos Lawsuit, Mesothelioma VictimsCategories: Asbestos, Mesothelioma Lawsuit
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