The nation’s asbestos bankruptcy trust funds—which are supposed to compensate victims, not enrich the trial bar—are vulnerable to fraud and abuse. Plaintiffs’ lawyers are able to “double-dip” from these trusts by concealing evidence when filing lawsuits for compensation and, once litigation is resolved, filing contradictory claims for the same injuries with the asbestos trusts.
Double-dipping is a significant problem. It is inherently unfair to victims, and it dilutes the compensation pool. That’s why Sens. Thom Tillis (R-NC), John Cornyn (R-TX), and Chuck Grassley (R-IA) have reintroduced the PROTECT Asbestos Victims Act.
The PROTECT Act would strengthen the Department of Justice’s ability to investigate double-dipping and other misconduct. It would also give DOJ additional tools to act on any waste, fraud, or abuse they find. The bill keeps the process above board and preserves the resources needed to handle legitimate asbestos claims.
Without congressional action, unscrupulous lawyers will continue to ‘double dip’ against the trusts and in the courts.
ILR applauds Sens. Tillis, Cornyn, and Grassley for introducing the PROTECT Act and urges Congress to pass this bill to create impartial, meaningful oversight of the asbestos trust and preserve victims’ access to compensation.
