By Harold H. Kim, Chief Operating Officer, U.S. Chamber Institute for Legal Reform
Fraud and abuse have become entrenched in the nation’s asbestos bankruptcy trust system. Plaintiffs’ lawyers routinely “double dip” by concealing evidence when filing lawsuits for compensation, then file claims for the same injuries with the asbestos trusts when the litigation is resolved.
It’s time to fix asbestos compensation. That’s why Sens. Thom Tillis, John Cornyn, Chuck Grassley, and Mike Crapo have reintroduced the PROTECT Asbestos Victims Act.
PROTECT would curb asbestos compensation abuse by creating meaningful oversight. It would strengthen the Department of Justice’s ability to investigate “double dipping” and other misconduct, while giving them the tools to act on what they find.
Trust resources are being drained at an unsustainable rate, which puts their ability to compensate victims in danger.
This legislation is urgently needed. We applaud Sens. Tillis, Cornyn, Grassley, and Crapo for introducing PROTECT, and we encourage both the Senate Judiciary Committee and the full Senate to preserve victim compensation and put a stop to wrongdoing by turning this bill into law.
