Despite mounting opposition among insurers, Democratic leaders, conservative members of Congress and representatives for victim groups, the U.S. Senate is scheduled to take up asbestos claims handling reform legislation this week.
The odds are rising against passage of the bill, despite strong support from the Bush administration, Senate Majority Leader William Frist, R-Tenn., and many defendant firms that feel it will substantially reduce their asbestos liability.
Insurers object to the fact that the bill does not provide the exclusive remedy the industry sought, with some claims potentially “leaking” outside the proposed trust fund system.
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