Asbestos is a fire-proof material, the fibers of which were used in cloth, building materials, auto parts, and other materials for an extended period of time, until it was found that asbestos is harmful, even cancerous. There have been thousands of injury claims made due to asbestos poisoning, putting uncomfortable pressure on many companies. Asbestos has already caused several companies to go bankrupt.
Senator Arlen Specter and U.S. Supreme Court nominee Harriet Miers argued earlier this year for an asbestos compensation fund, which would take asbestos suits out of the courts and pay the claims from a $140 billion privately financed fund. This bill would cause incredible issues.
The Hatch Frist Asbestos Compensation Bill (S. 1125) simply would not adequately compensate the victims of asbestos. 10,000 people died in 2003 alone, and the numbers continue to rise. For example, those who suffer from asbestosis who have lost 20% to 40% of their breathing capacity will only receive $75,000, which simply doesn’t cover most medical costs. According to “WORKSAFE!”, the bill is problematic also in that it has inadequate funding and solvency problems, no disclosure or guarantee of funding, unfair treatment of victims with pending claims, no provision for medical screening of high risk workers, and it preempts the Federal Employees Liability Act (FELA). The asbestos compensation fund is denying victims their right to seek a just reimbursement through their own means.
