US tries again with asbestos law
US senators have succeeded in getting the contentious Fairness in Asbestos Injury Resolution Bill back on to the Senate agenda, after a year-long struggle. The bill seeks to create a $114 billion trust fund, mainly financed by US insurers.
Drafted by Republican senators in response to demands that something be done to prevent the wholesale pillaging of companies’ compensation funds by plaintiff lawyers, the bill is expected to again meet stiff opposition from Democratic senators, who observers say have enjoyed strong financial support from the plaintiff lawyers’ lobby.
The bill failed to attract enough votes late last year, but the mainstream law bodies are also lobbying the Senate to say enough is enough.