Factors Affecting Asbestos Settlements
Posted on Friday, February 5th, 2021 at 3:48 am
Like many personal injury claims, most asbestos cases will be settled or reach a resolution before getting to trial. However, there are a number of factors that directly influence and affect asbestos settlements. This article will discuss some of these factors affecting asbestos settlements.
In cases that go to trial, a jury assigns a value to the losses that a plaintiff has suffered. Further, they assign relative amounts of liability to the defendants. However, as noted in one definition a settlement is an agreement between an injured person and the defendant. Such an agreement is made in exchange for releasing the defendant from future liability for that injury. Therefore, when a case is settled out of court, the compensation amount is determined by settlement negotiations with each defendant.
Factors Affecting Asbestos Settlements
Generally, various factors are taken into account when settlement negotiations begin in an asbestos case. Some of these factors include, the:
- Length of exposure
- Type of exposure
- Nature of the disease
For example, damages are generally much higher in cancers such as mesothelioma than in asbestosis. If exposure is for a carpenter working for twenty years and a car brake repairer working for four years. The drywall and joint compound defendants are likely to pay more than the brake shoe manufacturers.
Another element that directly affects the settlement is the quality of the evidence. In instances where the plaintiff did not pay attention to the kind of joint compound used, the joint compound manufacturers will point fingers at each other. As a result, they will probably settle less than if they plaintiff was able to identify the product under oath.
Another key factor is the attitude the defendants or their attorneys have with regards to settlement. Some will negotiate a reasonable settlement fairly early in the litigation, while others will fight and hold out for trial. However, the likelihood of trial is very small but is possible.
Speak to a Vinson Law Office attorney for legal advice and representation.