Today's News

Asbestos victims' compensation bill introduced

Senate Judiciary Committee Chairman Arlen Specter (R-Pa.) introduced a bill this week that would create a $140 billion trust fund to pay asbestos victims' claims while barring some smokers from benefits and curbing payouts to trial lawyers, according to The Washington Post.

The measure remains strongly opposed by insurers and some victim groups. Also, some members of the GOP are unhappy with the proposal, indicating they think it is too generous, reports the Post.

Specter said he expected the Judiciary Committee to take up the measure within two weeks.

The bill promises funding of $40 billion in the first five years from asbestos producers and users and their insurers, and an additional $20 billion of borrowing authority. Additional funding would be provided later; the trust fund would be scheduled to last 30 years. It also promises prompt payment of "exigent" claims (those in which the victim has a life expectancy of less than a year), and two years for others, or victims would be allowed to return to the courts.

It also would allow victims to return to the courts should total funding prove inadequate.

The measure would exclude people with lung cancer who also were smokers unless they can show a connection between their cancer and asbestos.

Insurers are unhappy that the measure might allow victims to return to the courts, reports the Post. At the same time, other groups began circulating estimates that the $140 billion would not be enough to provide adequately for all asbestos victims.

Did you enjoy this article? Click here to subscribe to ISHN.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

Scenes from the World of Safety

Sights, signs & symbols from the National Safety Congress & Expo held in San Diego, CA, September 15-18

4/14/15 2:00 pm EDT

RISK-BASED SAFETY MANAGEMENT SYSTEM: Key Components for Applying Risk Tools to EHS Efforts

Join us for this webinar as we discuss how you can make effective use of risk analysis and risk management technology to guide efforts within your organization. We will distinguish between risk analysis and risk management; and identify some of the software tools that will help proactively identify, document, mitigate, and prevent high-risk events. You will learn how to improve compliance, reduce risk, and cut costs in your organization using these automated tools.

ISHN Magazine

ISHN0415_cover.jpg

2015 April

Check out ISHN's April issue, which features content about lockout-tagout, heat stress, hearing protection and more!

Table Of Contents Subscribe

THE ISHN STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\ISHN\safetyfourth.jpg
Safety Engineering, 4th Edition

A practical, solutions-driven reference, Safety Engineering, 4th edition, has been completely revised and updated to reflect many of today’s issues in safety.

More Products

For Distributors Only - January 2015

FDO JAN 2015 COVER

 

For Distributors Only is ISHN's niche brand standard-sized magazine supplement aimed at an audience of 2,000 U.S. distributors that sell safety products. Circulation only goes to distributors. 

CHECK OUT THE JANUARY 2015 ISSUE OF FDO HERE

STAY CONNECTED

Facebook logo Twitter YouTubeLinkedIn Google + icon

ishn infographics

2012 US workplace deathsCheck out ISHN's new Infographic page! Learn more about worker safety through these interactive images. CLICK HERE to view the page.