Even though numbers are often thrown around, accurate asbestos-related claim statistics are not always easy to obtain. One solution for curious minds has been to attend the annual National Asbestos Litigation Conference that takes place each fall, where discussion revolves around settlement strategies and types of exposure.
Additionally, New Jersey-based PACE Claims Services, conference sponsor, has carefully researched trends associated with asbestos-related claims and taken a look at where things may be headed. Within the last 5 years, PACE notes that the filing of asbestos-related claims has been approaching a plateau. Prior to that, it was all about the volume of claims, because more claims meant more money.
Regardless, if a lawyer approaches a company with the statement, “Your product was at a job site where my client worked, and my client is now sick as a result,” then the defendant will have some explaining to do.
Many of the defendants are now spending much more money on these cases than ever before. Although each situation is unique, Tanella explained that the culprits cannot afford to ignore these issues.