As Asbestos Claims Rise, So Do Worries About Fraud

A WSJ investigation into asbestos trust claims and court cases of roughly 850,000 people filed since the late 1980s found many apparent anomalies.

• Asbestos claims continue rising by 85 per day even as asbestos usage has declined.
• Our analysis of claims data found anomalies like over 2,000 claimants saying they were exposed under age 12, and discrepancies between disease types reported to trusts versus courts.
• Trusts have reduced payout rates as assets deplete rapidly from mounting claims. Judges are allowing trust subpoenas to try to expose fraudulent claims.
• Lawyers advise trusts and influence policies while also seeking payouts for clients, a potential conflict. A lack of transparency enables abuse as trusts don’t scrutinize claims like court cases.
• There are worries that depletion of trust assets could leave many victims uncompensated even as claims continue rising.

Read the full story here.