Asbestos litigation has changed dramatically in the last few years, with the pendulum swinging more in favor of defendants. The era of mass screening of (fraudulent) claims has passed, corporate defendant bankruptcies are unlikely to resume at a significant pace, and many states have enacted reforms that focus resources on the sickest claimants.
However, the most serious mesothelioma claims are expected to continue for decades and remaining solvent defendants and their insurers continue to see upward pressure on the cost of these claims. Additionally, approval of several bankruptcy trusts with $30 - $40 billion available to claimants will influence future claiming behaviors. While the litigation landscape has changed for the better, significant liabilities remain and the future remains uncertain.
Panelists will provide an update on recent legislative actions and judicial proceedings that shape the litigation environment. Panelists will also provide the front-line perspective of an insurer handling asbestos claims on behalf of their policyholders on a daily basis. Mike will provide high level insights regarding nationwide trends, significant liability cost drivers, and areas that are of the most concern for the future.