Date: January 27, 2005
Source: News Room
A group of asbestos defendant companies and insurers has publicly declared its opposition to a Senate proposal that would curb asbestos claims. The group sent a letter dated Jan. 28 to Senate Judiciary Committee Chairman Arlen Specter (R-Pa.) criticizing plans for a compensation fund to replace asbestos suits. The group, which calls itself the Coalition for Asbestos Reform, recommends that rather than set up a $140 billion fund, the Senate should consider other solutions, such as legislation setting medical criteria for asbestos victims to bring claims against companies. Signatories included American International Group Inc., Chubb Corp., A.W. Chesterton Co., and the Associated General Contractors of America.
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