WASHINGTON--Sen. Arlen Specter introduced a revised version Friday of his legislation aimed at limiting asbestos injury litigation by creating a special $140 billion fund for claimants, nearly a third of it financed by insurers.
The Pennsylvania Republican demanded prompt Senate action on the modified measure, which replaces a version that hit opposition early in the year and failed to move.
Discussing the bill that would set an alternative claims handling process for asbestos suits, he said, "I plan on moving ahead with this bill and will do everything in my power to see that the Senate finishes its business on asbestos reform [this year]."
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