An Inactive Asbestos Docket: Understanding The Risks.

Mondaq Business Briefing, April, 2003

The drumbeat for a Congressional solution to the asbestos crisis has never been louder. The reason for such noise is likely the result of several factors taking place simultaneously - the woes of asbestos becoming a staple in the mainstream press, including frequent mentions of studies predicting that the total bill could reach an eye-popping $275 billion; an insurance industry struggling for various reasons, with ever-increasing asbestos reserves seen as an important one of them; a growing list of corporate bankruptcies tied to asbestos; studies linking the asbestos crisis to lost jobs and other negative economic consequences; the White House occupied by a tort-reformer with a track record; and the U.S. Senate under Republican control, with this being a non-election year. If...