Asbestos Fraud Bill Encouraged
Article Added January 25th, 2006 - Print This Story - Bookmark This Story
Congress has been encouraged by the Council for Citizens Against Government Waste (CCAGW) to pass S. 852, the Fairness in Asbestos Injury Resolution Act (FAIR Act). The bill would establish a trust fund to reimburse true victims of asbestos poisoning.
Trial lawyers see the situation of asbestos lawsuits as never ending. Annually, millions of dollars are wasted on fraudulent suits, making it harder for restitution to those who need it. Claims numbering more than 730,000 have been brought forward, with more than 300,000 claims pending. People that have not suffered any physical damage may account for close to 90% of these claims.
The trust fund would be made of contributions from corporations and their insurers’; the government and taxpayers would not be involved. True victims are suffering as a result of the tactics employed by trial lawyers, which also bog up the legal system. The system has become so weighed down with fraudulent claims that many true sufferers are dying before their cases are even heard. Even if the case is heard and restitution awarded, the lawyer often takes more than half of the compensation. The FAIR Act would help the true victims, as well as industries that are part of the litigation.
Article Added January 25th, 2006 - Print This Story - Bookmark This Story
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