The growing number of asbestos defendant companies and asbestos plaintiffs may reach peaceful coexistence shortly if an agreement can be finalized that would result in national legislation setting up a trust fund to compensate those sickened with an asbestos-related illness.
As reported in The News (see “Asbestos Lawsuits Surge,” January 27, 2003), asbestos liability has returned as a major problem and it is encompassing a wide range of businesses, including HVACR contractors, distributors, and manufacturers. According to the Insurance Information Institute, the cumulative liability could reach as high as $200 billion.