How Big Are Asbestos Settlements?

Asbestos settlements are big enough to move the markets. In the second quarter of 2011, Hartford Insurance, one of the nation's oldest, largest, and most prestigious financial institutions, marked down its pre-tax profits by $290 million in order to buttress its asbestos reserve. Hartford no longer offers insurance against asbestos liability, however, it is still obliged to fund decades-old asbestos liability plans. Because of the long latency period associated with asbestosis and mesothelioma, two of the leading asbestos-related illnesses, those plans are still paying out.

Asbestos cases often merge into insurance and class action cases as insured defendants, often major energy and manufacturing businesses, off-load lawsuits and their attendant legal and financial risks onto their more financially well-heeled insurers. When the dust settles, the result is litigation that includes numerous injured plaintiffs suing as a class against one insurance company, like Travelers or Hartford.

Given the nature of asbestos injury suits to merge into class action and insurance cases, you need experienced legal counsel who can adapt as your case changes. For the expert, litigation-tested attorneys who know the challenges of asbestos, class action, and insurance cases first-hand, talk to the professionals at Fears | Nachawati. Just call 1.866.705.7584 or email info@fnlawfirm.com.