More Than 730,000 People Have Filed Asbestos Injury Claims in U.S., Costing Defendants More Than $70 Billion
May 10, 2005
Published May 9, 2005
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Asbestos litigation is the longest-running mass tort litigation in U.S. history. Through 2002, approximately 730,000 individuals who had been exposed to asbestos have brought claims against some 8,400 business entities, and almost as many more future claims are likely. Defendants and insurers have spent a total of $70 billion on asbestos litigation through 2002, more than half of which was consumed by claimants’ and defendants’ litigation expenses. This monograph, the most comprehensive description to date of asbestos litigation, builds on previous RAND briefings, providing more detailed analyses and updating data to summer 2004. The authors report on what happened to those who have claimed injury from asbestos, what happened to the defendants in those cases, and how lawyers and judges have managed the cases, with an overall focus on how the litigation system has been performing in resolving asbestos claims.