By 2002, some 730,000 people had filed asbestos-related lawsuits against companies that knowingly exposed their workforce to asbestos. One result was nearly $49 billion in compensation for plaintiffs or family members. Another was that man asbestos-related companies were driven into bankruptcy. As part of bankruptcy, these companies were forced to establish trust funds as a way to insure that they could compensate fairly the injured workers who would seek compensation in the future.
Someone with mesothelioma – a rare and particularly deadly asbestos-caused cancer – can garner compensation through the legal system via a lawsuit verdict or settlement or through a claim with one of these asbestos trusts. The Patient Advocates at Drugwatch know all about the realities of asbestos exposure and mesothelioma and can help find a qualified mesothelioma lawyer. Regardless, occupational exposure to asbestos is a vital piece of information in these cases.
Once touted as a miracle material for its unmatched natural resistance to heat, fire, chemical and electric damage, asbestos was incorporated into thousands of products spanning a wide range of industries and occupations.
It later came to light that regularly inhaling airborne asbestos fibers, an unfortunate and often unavoidable consequence, can lead to the development of serious respiratory illnesses later in life, including asbestosis, lung cancer and mesothelioma (a rare cancer of the lungs’ protective lining caused exclusively by asbestos exposure).
Here’s How Mesothelioma Compensation Works
There are several ways people with mesothelioma and other asbestos-related illnesses can recover compensation for their pain and suffering. Because every claim is different, the amount of compensation can vary from a small amount to millions of dollars.
Generally, a mesothelioma lawsuit will cover:
Lost wages
Travel expenses for medical treatment
Support for you and your loved ones
Medical expenses
Physical and mental distress
Funeral expenses
Filing a lawsuit can lead to a settlement or a jury verdict. In some cases, your attorney can help you file a claim through an asbestos bankruptcy trust. If you are an injured American veteran, you may have to file a claim through the Veterans Administration.
Corporate Bankruptcies and Mesothelioma Trust Funds
The financial toll of asbestos-related lawsuits drove nearly 100 companies to file for bankruptcy in recent decades. As a condition of reorganization to emerge from bankruptcy, many of these companies were ordered to establish personal injury trusts so they can continue to compensate those injured as a result of their past negligence.
Once a trust is created for a company, claimants can no longer file lawsuits against it. Instead, compensation can only be attained by filing a claim with the trustees, who operate the trust to benefit future claimants. The first asbestos trust was set up in 1988 by Johns Manville. Since then, millions of claims were filed with the more than 60 trusts, and nearly $20 billion has been paid to claimants.