Senate to Debate Asbestos Bill

The Senate voted 98-1 on Tuesday to invoke cloture, or limiting debate, on the motion to consider the Fairness in Asbestos Injury Resolution (FAIR) Act, S 852.

Sen. James M. Inhofe, R-Okla., voted against consideration for the bill while Sen. Tom Coburn, R-Okla., did not vote. Senate Minority Leader Harry M. Reid, D-Nev., who has been vocal about his opposition of the bill, failed to generate backing for his plan to prevent the Senate from debating the bill.

S. 852 would create a $140 billion no-fault compensation trust fund to compensate people who were exposed to asbestos.

The legislation was introduced by Senate Judiciary Chairman Arlen Specter, R-Pa., and Ranking Member Patrick Leahy, D-Vt.

NAMIC opposes S. 852 as it was reported out in the Senate Judiciary Committee. The Senate began debating this bill on Wednesday, Feb. 8.

For complete coverage, visit:

Asbestos Settlement Advances (The Washington Post, Feb. 8)

Source: The Washington Post, NAMIC

Posted: Wednesday, February 08, 2006 12:00:00 AM. Modified: Wednesday, February 08, 2006 12:48:02 PM.

Salary Survey: Discounts for Participation & Membership

(317) 875-5250 - Indianapolis | (202) 628-1558 - Washington, D.C.

Contact NAMIC | Press | Advertise | Sponsor

We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.