Download e-book for kindle: Asbestos Litigation Costs and Compensation: An Interim by Stephen Carroll

By Stephen Carroll

ISBN-10: 0833032941

ISBN-13: 9780833032942

Examines the size of present asestos litigation and the aptitude destiny results of the litigation at the U.S. economic climate.

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Extra info for Asbestos Litigation Costs and Compensation: An Interim Report

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None of those we interviewed expressed strong reservations about our results. Some thought we might be somewhat high; others thought we were somewhat low. But none thought our estimate was very far off. S. insurance companies are required to list their cumulative net paid losses, including loss adjustment expenses, in their annual statements. A. M. Best has collected and collated these data. They report that U. S. 6 billion on asbestos claims through 2000 (Altonji, Horvath & Simpson, 2001). Based on conversations with both U.

Most states model their procedural rules upon the federal rules, but there are important differences between federal and state rules and among state rules. Because state substantive law and procedural rules differ—and because, in reality, informal practices differ across state and federal courts—our federal system provides strong incentives for plaintiffs to structure their lawsuits in ways that allow them to file in favorable forums. When defendants are able to do so, they in turn attempt to remove cases to forums that are favorable to them.

In the initial phase of the litigation, most claimants came from industries in which workers physical ly manipulated asbestos or products containing asbestos and typically inhaled large amounts of asbestos fibers on an everyday basis. Nicholson and his colleagues focused on the industries in which occupational exposure to asbestos was substantial: asbestos mining, manufacture, or installation, shipyards, railroad and automobile maintenance, construction, chemical, and utilities. Because workers in these industries were so heavily exposed to asbestos and, consequently, accounted for the large majority of claimants in the early days of the litigation, these industries are often termed the "traditional" industries.

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Asbestos Litigation Costs and Compensation: An Interim Report by Stephen Carroll

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