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February 2014 Archives

Forecasting the future of asbestos claims

Asbestos-related litigation blossomed in the 1980s and has grown and evolved over the last four decades. Nearly 100 companies have filed for bankruptcy as a result of asbestos litigation, causing plaintiffs' attorneys to focus on solvent, yet peripheral new defendants.iIn the last four decades, over 10,000 different companies have been named in asbestos lawsuits.ii The average number of companies named on a single asbestos complaint in 2015 was 69.iii Although the expiration of asbestos litigation has been predicted many times since it began nearly 40 years ago, there does not appear to be a clear end in sight. Recent filing trends, new plaintiff accessibility, and medical advances (among other factors) seem to indicate that asbestos-related litigation will continue well into the next decade and beyond.

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