Aggregate Limits: Addressing Arguments Advanced by Policyholders in Asbestos Claims

Now entering its third decade, asbestos exposures threaten the financial stability of numerous commercial entities. Asbestos manufacturers, distributors and installers have been forced to declare bankruptcy because of these exposures. RAND Institute for Civil Justice, "Asbestos Litigation in the U.S.A.: A New Look at an Old Issue" (Aug. 2001). Even companies with only a peripheral connection to asbestos &mdash; <i>eg</i>, car manufacturers that used asbestos-lined brakes &mdash; have been sued. Asbestos claimants continue to aggressively pursue any entity that had any involvement with asbestos. Indeed, the backlog of asbestos suits in the federal and state courts doubled from about 100,000 in 1990 to 200,000 in 1999. Asbestos Compensation Act of 2000, H.R. Rep. No. 106-782, at 18 (2000). Quite simply, absent federal legislative relief, asbestos cases will continue to clog U.S. courts. Moreover, asbestos litigation has and will continue to bog down a large segment of the U.S. economy. Studies are now projecting that asbestos lawsuits will continue until at least 2030.

23 minute readAugust 01, 2003 at 08:39 PM
By
John C. Yang
Aggregate Limits: Addressing Arguments Advanced by Policyholders in Asbestos Claims

Now entering its third decade, asbestos exposures threaten the financial stability of numerous commercial entities. Asbestos manufacturers, distributors and installers have been forced to declare bankruptcy because of these exposures.

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