NU Online News Service, May 11, 3:23 p.m. EDT,Washington--Public Citizen, a consumer group, issued areport yesterday stating that the current draft of asbestoslegislation would provide huge benefits for the insuranceindustry.
The report was issued a day before the Senate JudiciaryCommittee began to vote on amendments to the bill that would createan alternative claims handling mechanism for asbestos with a $140billion trust fund to pay injury claimants.
In a report in advance of today's action on the bill, the RANDCorp. pre-released a study indicating that asbestos claimants havereceived only 42 percent of every dollar insurers and companieshave paid to deal with asbestos litigation filed from the early1970s through the end of 2002.
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