Summary
If insurers and industry act now, they may stem the plague of silica and mixed-dust claims before it develops into the next asbestos. Together, they should first press for enactment of the FAIR Act. Then they should press for reforms that help the tort system deal sensibly with silica and mixed-dust claims. But reforms alone are not enough. Insurers and industry must rethink their approach to settling claims and, in particular, whether paying meritless claims cuts costs or instead encourages more claims by plaintiffs in good health. Lastly, to avoid being blindsided again, insurers need to examine their exposure to silica and mixed-dust claims.
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Extract
Fighting Back
A plague threatens insurers, but it is a plague of lawsuits, not disease. At least 49 corporations have been named as defendants in silica personalinjury cases.Together, two of those defendants face more than 70,000 claims.The silic...
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