Asbestos,Litigation,How,the,FA health Asbestos Litigation; How the FAIR Bill will affect you?
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Prolonged asbestos exposure can lead to dangerous health conditionsincluding mesothelioma, asbestosis, and lung cancer. Every year 2500 to3000 new cases are diagnosed every year with thousands more outside theUnited States as other countries have been slow to adopt asbestos bans(though asbestos is not completely outlawed in the United States andexists in many products manufactured today).Treatment only adds a few months to the life of the victim as thecancer is often in its latter end stages by the time a diagnosis ismade. The large number of asbestos related lawsuits in recent times has leadto an overwhelming backlog of unresolved cases in our legal system. Ifthese cases are not settled on time because most of them will drag overyears, the victims might have died by the time the judgments are given.Furthermore numerous companies have gone out of business because theycould no longer operate under the financial strains of numerousmulti-million dollar judgments. This in turn limits the ability of theaffected victims to claim their compensations.If this system continues, the expected case filings over the next decade will create a standstill for legal action.One of the major problems with asbestos cases is the fact that a numberof these lawsuits are speculative. A person who was exposed but has yetto get a conclusive diagnosis of any asbestos related illness may filein court.The Proposed SolutionThe Fairness in Asbestos Injury Resolution Act of 2005 came toexistence shortly after March of 2004 after Pres. Bush proposed limitson asbestos related "junk" lawsuits at a speech in Detroit.Originally introduced by Sen. Orrin Hatch, the FAIR Act would establisha $140 billion trust fund to replace litigation as a means tocompensate victims of asbestos and limit liability.The maximum award would be $750,000 but with an estimated 500,000possible claims. The fund would quickly deteriorate and could not payvictims. ($375,000,000,000,000 would be needed according to estimatesif each received the maximum)The bill was initially defeated last year but has stuck around theSenate Judiciary Committee which last week approved new amendments tothe bill including support for those exposed during 9/11 and hurricaneKatrina.However the bill includes an exposure length minimum of 5 years which effectively eliminates both groups.On April 26, 2005 supporters and opposers testified before CongressA solution needs to be reached soon but that solution needs to beequitable to all sides involved. The bill is currently in the SenateJudiciary Committee but the new version could be voted on when the newsession begins. Article Tags: Asbestos Related
Asbestos,Litigation,How,the,FA