Asbestos Litigation: Costs and Compensation by Stephen J. Carroll

By Stephen J. Carroll

Analyzes the prices and reimbursement paid for asbestos personal-injury claims and discussess such matters because the present nation of asbestos litigation within the usa, the prices of reimbursement, the results if litigation within the companies, and theevolving personality of litigation.

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Because the study by Nicholson et al. 1). , premature) asbestos-related deaths due to three types of cancer (mesothelioma, lung cancer, and gastrointestinal and other cancers), and the sum of these categories of cancer deaths for the years 1965 through 2029. 1). Nicholson et al. projected that excess deaths from asbestos-related cancers would peak during the 1990s, and then gradually decline. According to their projections, 120,085 asbestos-related cancer deaths will occur over the next 25 years (2005–2029).

According to their projections, 120,085 asbestos-related cancer deaths will occur over the next 25 years (2005–2029). Of these future cases, four of five were predicted to occur in the next 15 years (2005–2019). The projections by Nicholson et al. (1982) end in the year 2029, although the number of asbestos-related cancer deaths in the last projection period (2025–2029) is still substantial at 8,695. Because each of the early projection studies employed different methods, they generated vastly different estimates.

The economic effect of asbestos litigation extends well beyond the bankruptcy of a number of firms. Defendants that have not filed for bankruptcy have nonetheless incurred asbestos litigation costs. As a result, these firms may reduce their investment levels. Reductions in investments, in turn, can lead to reductions in the creation of new jobs. Is There a Better Way? Efforts to improve the resolution of asbestos litigation implicate strongly held views about the tort system, which has traditionally been the primary vehicle in the United States for compensating victims of injurious behavior by others and an important tool for regulating corporate behavior.

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