[breadcrumb]
In the past few decades, mesothelioma lawsuits starting becoming quite common. As companies liable for asbestos exposure were forced to pay settlements, many filed for Chapter 11 bankruptcy. This filing protected this from lawsuits. However, courts still hold them accountable for the asbestos exposure they caused.
These companies set up mesothelioma compensation funds. Through these trust funds, those who would otherwise file a mesothelioma lawsuits against the company can receive compensation.
According to the RAND Corporation’s Institute for Civil Justice, nearly $20 billion has been paid out of mesothelioma compensation funds since the late 1980s. A large majority of that was paid out between 2006 and 2012.
How Much to Expect from a Mesothelioma Compensation Fund
The amount paid to victims out of mesothelioma compensation funds depends greatly on the severity of the disease. For instance, asbestosis is considered less severe than mesothelioma, though they both are caused by asbestos exposure. As such, someone with asbestosis may receive less than someone with mesothelioma.
Because these trust funds usually don’t have enough money to pay full current and future claims, they generally pay on a percentage scale. The biggest trusts will offer to pay anywhere from 1.1% to 100% of the claim, but the median payout is around 25%.
By limiting payouts, mesothelioma compensation funds are able to pay more claims and continue paying further into the future.
Filing a Claim with a Mesothelioma Compensation Fund
In order to successfully file a claim with one of these trust funds, you must be able to prove you have an asbestos-related illness or injury related to one of the companies with a fund. You will also need to properly fill out and submit any and all paperwork required by the mesothelioma compensation fund.
You may also be required to provide further evidence of your illness, including (but not limited to):
- Medical documentation of your diagnosis, including pathology reports, X-rays or other documentation
- A statement from your physician confirming the diagnosis
- Documentation stating how involved asbestos exposure was in the development of the disease
- Evidence that you were exposed to asbestos due to the company’s actions or negligence, which may include employment records and witness statements
It’s important to note that states have individual laws regarding how much can be awarded through mesothelioma compensation funds, and the timeframe in which a person must file a claim.
Further, if someone receives compensation through a trust fund, then later receives a lawsuit settlement from the same company, the amount awarded from the trust fund may be deducted from the amount won through the lawsuit in some states.
Because there are many factors that go into a claim against a mesothelioma compensation fund, and an error in paperwork could lead to no payout, it’s important to speak to an experienced mesothelioma attorney about your situation.
