Chances of Congress passing major asbestos litigation reform suffered a critical setback tonight when legislation creating a trust fund for asbestos injury claimants failed to overcome a Senate procedural hurdle.
The move to end floor action on the bill was crafted by an unlikely coalition of conservative Republicans and liberal Democrats.
Its success was a victory for a majority of insurers who for various reasons opposed the legislation as drafted by Sens. Arlen Specter, R-Pa., chairman of the Senate Judiciary Committee, and Patrick Leahy, D-Vermont, its ranking minority member.
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.
