Wayne Allard: “The Senate will decide shortly what path to take on the pending asbestos liability legislation, otherwise known as the…”

“The Senate will decide shortly what path to take on the pending asbestos liability legislation, otherwise known as the Fairness In Asbestos Injury Resolution Act, more frequently referred to simply as the FAIR Act. This bill has inspired very strong sentiments from many Americans. Like my colleagues on both sides of the aisle, I am deeply sympathetic to those who have suffered severe medical consequences from exposure to asbestos. I am somewhat less sympathetic to those who may seek compensation without demonstrating a medical impact on their lives. While the number of mesothelioma claims has remained relatively steady at about 2,000 claims a year for the last 10 years, over 100,000 cases were filed in 2003. According to the RAND Institute for Civil Justice, mesothelioma victims receive only 17 percent of compensation awards, compared to 65 percent for nonmalignant claimants. On top of that, trial lawyers may charge fees as high as 40 percent plus litigation expenses. The result of less justifiable lawsuits is many real victims are denied compensation for actual injuries. To date, 67 companies have been bankrupted and more than 60,000 Americans have lost their jobs as a direct result of asbestos liability. Clearly, we have a problem in this country.”