Sen. Arlen Specter has scheduled a hearing for June 7 on his newly revised legislation aimed at limiting asbestos injury litigation by creating a special $140 million trust 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. He scheduled the hearing before the Senate Judiciary Committee that he chairs.
Sen. Specter said his new bill will address concerns voiced by opponents by strengthening medical criteria for awards. It also adds an amendment that improves the process for contributions by both well-insured and financially-strapped defendant companies, he said.
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