A new study shows that asbestos lawsuits show no sign of stopping.
Over the past 25 years, insurance companies have paid $51 billion to compensate victims of asbestos-related diseases like mesothelioma, asbestosis and gastrointestinal cancers. Ratings firm A.M. Best just released a study, which says that the insurance industry can expect to pay a total of $85 billion to asbestos victims. This is $10 billion higher than the previous estimate of $75 billion.
“With no end to these losses in sight…it is clear that the asbestos problem will persist for many years to come,” the report said.
Even though asbestos has not been used in most American industries since the 1970s, the long latency period ensures that asbestos claims will not go away anytime soon. Workers exposed to asbestos may not find out that they are sick until 20, 30 or even 40 years after the initial exposure.
Asbestos victims often receive high payouts because asbestos-related diseases are usually painful and fatal. If you know someone suffering from a disease connected to asbestos exposure, we can help you fight for compensation for your medical costs, pain, suffering, emotional trauma or loss. Call 1-888-637-6347 or submit a contact form to learn more. We offer free consultations so you can learn about your rights at no cost to you.
Cappolino Dodd Krebs LLP – asbestos lawyers