People who are exposed to asbestos are at risk of developing mesothelioma, even decades after the exposure. The seriousness of this condition and the cost of care means that victims will face many challenges as they navigate life with this disease.
Victims might opt to pursue a claim for compensation in these cases. That led insurer Liberty Mutual to try to limit its liability in these cases. Recently, a judge in New York shot down that attempt by the insurance company.
Why would Liberty Mutual’s liability be limited?
Liberty Mutual once insured a valve manufacturer. However, it wasn’t the insurance provider for a company that manufactured valves for the entirety of the company’s existence. It didn’t cover the company from 1980 to 1987. Because of that, Liberty Mutual petitioned the court to limit the amount of an asbestos settlement that involves the insurer.
The judge overseeing the case ruled that pro-rata allocation of liability doesn’t apply to this case. It’s only valid between the insurer and the policyholder. The policy holder dissolved in 2004 without having any other insurer that could cover part of the settlement.
With this ruling, Liberty Mutual is responsible for covering the settlement that enables asbestos victims to receive compensation. The settlement wasn’t a huge one, but it does set an important precedent for cases that might follow.
Anyone who’s been exposed to asbestos should vigilantly monitor their health. Many conditions might not be easily noticed. One issue is that there’s never a safe time to let your guard down. Even decades after the exposure, you can get sick.
Asbestos settlements help to provide the compensation for expenses and other damages for these victims. If you’re suffering from any asbestos-related condition, explore your right to seek compensation.