Major insurance companies told members of the Senate last week they oppose legislation approved by a committee that would tap their revenues for the bulk of a $140 billion asbestos trust fund.
The bill was reported out by the Senate Judiciary Committee May 26 by a convincing 13-5 margin.
In outlining their objections, the group appeared to give implicit support for alternative legislation that would merely establish medical criteria for settling claims. That legislation was introduced in May, but only in the House.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
