Friday, September 09, 2011

Asbestos deja vu: House thinks litigation still a problem

Reuters reports on today's House hearing on asbestos trusts and possible frauds associated with how claims are filed and paid. The allegations are that:

1) claimants double dip by collecting money from in courts and from the asbestos trust funds in excess to their value;
2) claimants back up claims for conditions that are not disabling with fraudulent evidence
3) claimants contradictory reports in tort cases and trust fund claims so that they can recover money from the trust fund based on evidence that would not be acceptable in a court of law.

Two of the written statements are available here:

I plan to write a longer commentary when the record of the hearing will be made available in its entirety. Overall, the hearing truly replicated the arguments that float around asbestos compensation in the United States, which has ended up in a rabbit hole that is rather unique if compared to other Western nations.

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