Asbestos Litigation Reform

The Council's Financial Services Committee has advocated on behalf of asbestos litigation reform as one of its priorities since 2003.

The Council has educated members of the delegation on the impact that expanding litigation is having on manufacturers - as well as other businesses - and insurers in the region. Any effective legislative solution must achieve "certainty and finality". In addition to the effect on businesses, without reform, there is no guarantee that those who are truly sick due to asbestos exposure will receive just compensation for their injuries.

The Council has also weighed in with select members of the delegation as they deliberated legislative solutions. Negotiations have been promising at times, and considering that Congress now appears to be nearer an agreement on this issue than it has been in the past, perhaps a final legislative solution will be reached.