WASHINGTON, D.C. — Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement today about Texas Governor Greg Abbott signing into law a bill (HB 1492) to curb “double dip” claims against asbestos bankruptcy trusts and in the tort system:
“We commend Texas for taking a meaningful step to improve its civil justice system by enacting a law to guard against ‘double dip’ asbestos claims. This law will help ensure that the tort and asbestos trust systems work together fairly to compensate claimants while discouraging fraudulent claims. It will also help Texas manufacturing companies and protect jobs by ensuring that companies are not bankrupted by abusive claims.
“Texas joins a growing number of states including Arizona, Ohio, Oklahoma, West Virginia, and Wisconsin that have enacted such laws to bring transparency to the asbestos compensation system. We applaud the commitment of Representative Doug Miller and Senator Charles Schwertner to enacting this law, and Governor Abbott for signing it.”
ILR seeks to promote civil justice reform through legislative, political, judicial, and educational activities at the national, state, and local levels.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.