Business Services Industry
Asbestos bill bogs down in markup efforts; After a contentious hearing and a slow start, work to resume May 12.( )
Business Insurance, May, 2005 by HOFMANN, MARK A.
Byline: MARK A. HOFMANN WASHINGTON-Following an unsuccessful markup bid last week, the Senate Judiciary Committee will wait until next week to resume consideration of a bill that would create a $140 billion no-fault trust fund to replace the litigation-based system for compensating victims of asbestos-related disease.
Senate Judiciary Committee Chairman Arlen Specter, R-Pa., had hoped to complete markup of the 306-page Fairness in Asbestos Injury Resolution Act-S.852-last Thursday. Doing so would have required a marathon session, because members of the committee had prepared more than 80 amendments to the measure by the time markup began. In fact, after two hours of debate and statements, only one amendment had been disposed of, as committee members...
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