Senator Hatches Asbestos Plan Washington

A new proposal to create an asbestos claims resolution fund may be the first step toward resolving the litigation morass surrounding asbestos, industry representatives say.

The proposal, which was introduced in draft form by Senate Judiciary Committee Chairman Orrin Hatch, R-Utah, would create a $90 billion fund to settle asbestos-related claims, with one half of the total coming from insurance companies, according to a draft released by Senator Hatch on May 19.

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