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Liability Claim Nightmares Can Emerge From Miracle Products & Technologies

Between 1991 and 2004, U.S. insurers paid over $24 billion on asbestos claims, according to the Insurance Information Institute in a report published in October 2008.

By James W. Mccleary | Updated on April 12, 2009

Asbestos. Purported “miracle fiber.” Shipbuilding. Asbestosis. Construction materials. Brake pads. Asbestos dust. Mesothelioma. Fireproofing. Cement pipes. Lung cancer. Cigarette filters. 730,000 claims. Connect the dots.

Between 1991 and 2004, U.S. insurers paid over $24 billion on asbestos claims, according to the Insurance Information Institute in a report published in October 2008.

So far, companies having anything to do with asbestos have paid approximately $70 billion in claims and related costs, with more than 8,400 entities named as defendants, according to the RAND Institute for Civil Justice.

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