H.R. 982, the “Furthering Asbestos Claim Transparency (FACT) Act of 2013.
"Asbestos defendants and insurance companies, under the guise of creating increased
“transparency,” are introducing proposed legislation in state legislatures to grant solvent asbestos defendants new rights and advantages to be used against asbestos victims in court. Some of these bills would also burden the asbestos trusts with unnecessary reporting requirements, slowing their ability to pay claims, and further draining them of the resources needed to make their already diminished payments. In general, the bills are an attempt to change the rules of the tort system to provide defendants with an advantage, using the existence of the trusts and claims of a lack of “transparency” as a subterfuge."
Elihu Inselbuch, Member, Caplin & Drysdale, Chartered, Testimony, Hearing: March 13, 2013
H.R. 982, the “Furthering Asbestos Claim Transparency (FACT) Act of 2013”
COMMITTEE ON THE JUDICIARY SUBCOMMITTEE ON REGULATORY REFORM, COMMERCIAL AND ANTITRUST LAW