Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How commonplace are asbestos lawsuits?

April 26, 2017asbestos commonplace lawsuits

0

Posted

How commonplace are asbestos lawsuits?

1 Answer

0

Posted

Since the regulation of asbestos in 1970, asbestos lawsuits have become somewhat commonplace in tort law (civil law). The RAND (nonprofit research and development institution) Institute of Civil Justice has declared asbestos litigation to be the longest running mass tort in U.S. history. Through 2002, an approximate 730,000 asbestos claims had been filed against some 8,400 business entities. Defendant corporations and insurance companies have spent a total of $70 billion in asbestos-related legal expenses, $49 billion of which constitutes gross compensation for claimants.