NU Online News Service, May 20, 3:12 p.m. EDT--A measure preventing asbestos lawsuits by those who cannot show medical proof of injury was signed into law yesterday by Texas Republican Gov. Rick Perry.
The bill, establishing medical criteria that must be proved before filing, makes Texas the fourth state with Florida, Georgia and Ohio to require such medical proof. The new law also abolishes the statute of limitations so that claimants retain their right to sue should symptoms develop.
"Texas is helping to set the national trend regarding asbestos litigation reform," said Joe Woods, regional manager for the Property Casualty Insurers Association of America.
The legislation will remove a majority of claims that are clogging up the system and allow the true asbestos victims to gain fair and quick compensation, he added.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
