Government Affairs REPORT

Quick resolution on asbestos reform bill spought by Sen. Specter

Senator Arlen Specter (R-PA) has said that he will seek a quick resolution on a comprehensive asbestos bill when the 109th Congress convenes in January. Specter is expected to chair the Senate Judiciary Committee that has jurisdiction over tort law and related legal issues.

Behind the scenes talks aimed at creating an asbestos trust fund have begun again. Representatives from business, labor, insurance, and trial lawyers are working with Senate leadership. Details of the talks are not available at this time.
Previous negotiations focused on establishing a $140 billion trust fund that would be financed by defendant companies and their insurers.

However, the bills failed for a number of reasons, including an inability to resolve the issue whether pending cases should stay in court or be covered by the trust fund.