At least 500,000 more asbestos injury claims are expected in coming decades even as resources to compensate victims dwindle, with asbestos lawsuits having already forced 78 firms into bankruptcy, an actuary group reported.
The analysis came from the American Academy of Actuaries' Mass Torts Subcommittee in Washington.
According to their report, "Current Issues in Asbestos Litigation," despite the huge costs, the asbestos litigation system has been inefficient, with only 41 percent of total spending reaching claimants.
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