Five important facts about mesothelioma claims
Mesothelioma is a degenerative condition precipitated mainly by inhaling or swallowing airborne asbestos. Since its discovery in the early part of the 20th century, millions of people have been affected. Many of the affected individuals have not held back on their right to take action and hundreds of thousands of claims have been filed by mesothelioma attorneys.
1) Most cases settle before a trial
History shows that the majority of mesothelioma cases are settled out of court. While going to court would mean getting more out of your lawsuit, you really never can tell if the jury would be on your side and the trials take a long time to come to an end. Settling out of court also avoids the emotional stress and time-wasting that are associated with trials. A settlement supervised by a mesothelioma lawyer guarantees compensation. The average settlement for Mesothelioma cases in the US is around $1.2million.
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2) Mesothelioma suits are not class actions
A class action refers to a joint claim that is instituted by a group of people with similar injuries against the same defendant(s) on behalf of many people with similar injuries. Previously, mesothelioma attorneys filed their claims as class actions. This tends to streamline the judicial process and reduce the total compensation paid to the victims. Now, it has been realized that each person has a different story and victims are treated as individuals.
3) Mesothelioma lawsuits constitute the longest-running torts in the US
Asbestos-related diseases were identified in the late 1920s and there have been no turning back on litigations since that period. What started as secret settlements garnered a lot of public awareness around the 1970s and the 1980s. The 1990s probably recorded the highest number of litigations. Some affected companies have gone bankrupt and many have been forced to pull resources together to fund Asbestos Trusts.
4) Number of lawsuits have continued to rise
Worryingly, the incidence of mesothelioma and the number of mesothelioma lawsuits continue to rise. American Cancer Association reports that there are about 3000 new cases each year. Considering the fact that about 100 million Americans were exposed to asbestos in the workplace, it becomes hard to predict when a decline in the incidence of the deadly form of cancer would be experienced. Another factor that further complicates the already difficult task is the long latency period of the disease. It could take up to 50 years after exposure before the victim starts developing symptoms.
5) Companies pumping more into reserves
A surge in the number of reported claims, more than the expectation of many companies, has led to more focus on reserve development. Mesothelioma trust funds are getting more attention these days and the affected construction companies are combining resources to fund research and victims’ health bills. Another reason for this is the increase in overall costs associated with the litigation. and a worsening in the severity of claims.
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If you are affected or know anyone affected by mesothelioma, the first thing you need to do is get a good mesothelioma attorney. While the compensation would never be enough to ease the pain, it could go a long way in setting you on the right track.