NU Online News Service, May 10, 12:20 p.m. EDT–Over the past three decades insurers and businesses have spent $70 billion to cover legal expenses and pay claims related to asbestos-related injuries, a new study has found.
The research by the Santa Monica, Calif.-based RAND Institute for Civil Justice also found that more than 730,000 people in the United States have filed compensation claims for asbestos-related injuries from the early 1970s through the end of 2002.
Claimants, the study found, have received about 42 cents of every dollar spent on asbestos litigation, with another 31 cents going to defense costs, and 27 cents to plaintiffs' attorneys and other related costs. The research notes that there is no published research comparing the compensation received by asbestos plaintiffs with their economic losses.
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