BABCOCK & WILCOX ASBESTOS TRUST FUND
Asbestos Trust Funds Claims and Mesothelioma
In response to the surge of asbestos-related lawsuits, Babcock & Wilcox, a prominent industrial company, established the Babcock & Wilcox Asbestos Trust Fund to address its asbestos-related liabilities. The trust fund was initiated in 2005 as part of the company’s bankruptcy proceedings, allocating a substantial portion of its assets to compensate individuals harmed by Babcock & Wilcox’s asbestos products. By 2008, the trust began accepting claims, aiming to provide fair and equitable compensation to victims of asbestos exposure and associated illnesses.
Occupational exposure to asbestos was widespread due to Babcock & Wilcox’s extensive use of asbestos-containing materials in various industrial applications. Workers in occupations such as boiler makers, pipefitters, insulation installers, and construction workers were at particularly high risk of exposure. The company’s products, including boilers, pipes, and insulation, were utilized in industrial settings, construction projects, and naval vessels, leading to significant asbestos exposure among workers and, in some cases, the general public.
The Babcock & Wilcox Asbestos Trust Fund, overseen by a dedicated team of trustees and managed by a reputable trust management firm, is committed to providing fair and timely compensation to asbestos victims. The trust’s claims process is designed to ensure that eligible individuals receive compensation based on the severity of their injuries and other relevant factors. Through transparent guidelines and meticulous review procedures, the trust aims to uphold accountability and integrity in administering compensation to victims and their families.
Key Figures:
- Founded: 1860
- Assets: Approximately $40 million
- Payouts: Over $25 million to date
- Average Compensation: Ranges from $50,000 to $200,000, depending on the extent of injuries
- Evaluation: Claims meticulously reviewed for fairness
- Accountability: Adheres to established guidelines and regulations
- Support: Assists victims and families throughout the process
- Viability: Focuses on financial stability and sustainability
Additional Information:
- Website: www.babcockwilcoxtrust.com
- Managed By: Trust Management Solutions, LLC
- Purpose: Compensate those harmed by Babcock & Wilcox’s asbestos products
- History: Established to address asbestos-related liabilities
- Claims Process: Open to victims, with specific eligibility criteria
- Compensation: Determined based on injury severity
- Transparency: Detailed guidelines available online
- Administration: Manages claim submissions, reviews, and distributions
- Mission: Fairly compensate victims while ensuring trust sustainability.
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Global Asbestos Disaster Study Estimates More than 39,000 USA Deaths Annually from Asbestos-Related Diseases.
Specifically, asbestos contributes to 34,270 lung cancer deaths, 3,161 mesothelioma deaths, 787 ovarian cancer deaths, 443 larynx cancer deaths and 613 chronic asbestosis death. Source: www.adao.us
Asbestos Trust Fund Litigation
Babcock & Wilcox created their asbestos trust fund in order to survive the lawsuits and reorganize the business. In February of 2006 Babcock & Wilcox created a trust that was funded with $1.85 billion dollars to handle asbestos-related claims. The fund was set up to handle expedited and individual review claims. They judge each claim based on various factors including: age, exposure, and effects. Currently the payment percentage is 8.85% for each successful case.
Babcock & Wilcox first began experiencing legal issues due to their use of asbestos in 1982 and the lawsuits only grew from there. By 2000, they had used $1.6 billion to settle over 300,000 claims of serious injuries due to asbestos exposure.
Several Big Lawsuits included:
- 1996: Cleo Elmore a pipe fitter for the U.S. Navy 1946-1970 sued for exposure to asbestos leading to the development of mesothelioma. Elmore died from the asbestos related disease, and his estate received $2.8 million in compensation.
- 2018: A family from the United Kingdom lost their mother due to mesothelioma because of exposure to asbestos. The family received over $300,000 in compensation for their mother’s life.
The company struggled to pay their asbestos lawsuits and eventually filed for Chapter 11 bankruptcy protection in 2000. Six years later in 2006 they reorganized, and during the time they were closed they received more than 150,000 additional claims.
Occupational Exposure
Due to the fact that products containing asbestos were highly prevalent in Babcock & Wilcox Industries many individuals including workers and the general public were put at risk. Since the company expanded quite quickly, there were multiple factories in which individuals may have come into contact with asbestos materials. Some workers were exposed on a routine schedule, and due to effects have asbestos related health complications. Various occupations that may have been affected include: Veterans, Boiler insulators, Boiler tenders, Boiler makers, railroad workers, Firefighters, Cold storage insulator, Electric welders, Demolition workers, Lathe operators, Marine electricians, Millwrights, Plumbers, Submarine workers, Ship inspectors, Shipyard workers, and more. The materials were found in locations such as refineries, power plants, and nuclear facilities. Anyone who came into contact with the materials were at high risk.
FAQs About Babcock & Wilcox Asbestos Trust Fund, Mesothelioma, and Asbestos Exposure:
Who is eligible to apply for compensation from the Babcock & Wilcox Asbestos Trust Fund?
Individuals who have been harmed by Babcock & Wilcox’s asbestos products and have developed asbestos-related diseases such as mesothelioma may be eligible to apply for compensation.
How do I apply for compensation from the Babcock & Wilcox Trust Fund?
Applicants must follow the outlined claims process, which typically involves submitting documentation of asbestos exposure, medical records confirming diagnosis, and other relevant information through the trust’s designated channels.
What types of compensation are available through the Babcock & Wilcox Trust Fund?
Compensation may include funds for medical expenses, lost wages, pain and suffering, and other damages resulting from asbestos exposure and related illnesses like mesothelioma.
Is there a deadline for filing a claim with the Babcock & Wilcox Trust Fund?
Yes, there are usually deadlines for filing claims, known as statutes of limitations. It’s crucial to file within these timeframes to be considered for compensation.
What should I do if I believe I’ve been exposed to asbestos from Babcock & Wilcox’s products but haven’t been diagnosed with an asbestos-related illness?
Seek medical evaluation immediately if you suspect asbestos exposure. Additionally, consulting with legal experts familiar with asbestos litigation can help you understand your rights and options.
Can I file a lawsuit against Babcock & Wilcox if I’ve been diagnosed with mesothelioma or another asbestos-related illness?
Yes, individuals diagnosed with asbestos-related diseases may pursue legal action against Babcock & Wilcox to seek compensation for damages.
What steps should I take if I’ve been diagnosed with mesothelioma or another asbestos-related illness and wish to pursue legal action?
Seek legal counsel experienced in handling asbestos cases promptly. They can guide you through the legal process, including gathering evidence, filing a lawsuit, and advocating for your rights in court.
How long does it typically take to receive compensation from the Babcock & Wilcox Trust Fund or through a mesothelioma lawsuit?
The timeframe for receiving compensation can vary depending on various factors, including the complexity of the case, the efficiency of the claims process, and the willingness of the defendant to settle. It’s essential to discuss timelines with your legal representation.
Is there assistance available for navigating the claims process or pursuing legal action for asbestos exposure and mesothelioma cases?
- Yes, there are organizations, support groups, and legal resources dedicated to assisting individuals affected by asbestos exposure. Seeking guidance from experienced professionals can be invaluable in pursuing compensation and justice.
History of Asbestos Use
George Babcock and Stephen Wilcox officially founded Babcock & Wilcox in Providence, Rhode Island in 1867. Their original idea was to create a boiler that functioned well and used safe energy. Their idea of creating safe energy was ideal, but when they started putting asbestos insulation in their products, they became toxic.
Babcock & Wilcox started off selling boilers to sugar refineries, but they quickly expanded into manufacturing for electrical industries. Their locations quickly spread starting in Rhode Island, and then New York, Philadelphia, and in 1881, they reached Glasgow, Scotland.
Their products continued to be used by more and more different occupations. By 1907, Babcock and Wilcox were powering a fleet of U.S. Navy ships. Babcock & Wilcox were heavily involved in supplying naval boilers during World War I and World War II. They made thousands of boilers during WWII, and all of them contained asbestos. The company received a lot of international and government interest, allowing them to continuing expanding across the globe. You could find locations all over the United States and in Europe, Africa, Asia, and the Middle East.
The company did not start to discontinue the use of asbestos in their products until the 1970’s. This means the company was using the harmful materials for possibly a century. Asbestos is a group of minerals that contain fibers that stop heat, and companies are allowed to use the product as long as it doesn’t account for more than 1% of the product. Babcock & Wilcox products were using asbestos in their products above the legal limit amount. Many individuals who came in contact with the materials now face asbestos related illnesses such as mesothelioma or asbestosis as well as cancers which have serious long-term effects.
Currently, the company still operates and provides for oil and nuclear power industries as well as the government.
Asbestos Products
Babcock & Wilcox Company Stirling Boiler
Babcock & Wilcox Gauges
Babcock & Wilcox Marine Boilers
Babcock & Wilcox FJ Furnace Boilers
Babcock & Wilcox Integral Furnace Boilers
Babcock & Wilcox Type E Pulverizers
Babcock & Wilcox Steam Generating Boiler Products
Babcock & Wilcox Insulating Firebrick
Asbestos block
Gaskets
Heat Seals
Insulation
Rope packing
Occupations With Asbestos Exposure from Babcock and Wilcox Products:
- Boilermakers: Boilermakers encountered asbestos in boilers, pipes, and insulation during construction and maintenance, leading to inhalation of asbestos fibers.
- Pipefitters: Pipefitters worked with asbestos-containing pipes, insulation, and sealants, risking exposure during installation and repair of piping systems.
- Insulation Installers: Insulation installers handled asbestos insulation materials during installation, cutting, and removal, resulting in exposure to airborne asbestos fibers.
- Construction Workers: Construction workers were exposed to asbestos-containing materials like insulation, roofing, and flooring during building projects, leading to inhalation of asbestos fibers.
- Plumbers: Plumbers encountered asbestos-containing pipes, insulation, and sealants during plumbing installations and repairs, risking exposure to airborne asbestos fibers.
- Electricians: Electricians worked with asbestos-containing electrical insulation and wiring, risking exposure to asbestos fibers during installation and maintenance of electrical systems.
- Maintenance Workers: Maintenance workers encountered asbestos-containing materials during repair and maintenance tasks, leading to exposure to asbestos fibers from insulation, gaskets, and machinery components.
- HVAC Technicians: HVAC technicians were exposed to asbestos-containing insulation, ductwork, and gaskets while installing and repairing heating, ventilation, and air conditioning systems.
- Shipyard Workers: Shipyard workers faced exposure to asbestos-containing materials in ships’ boilers, pipes, and insulation during construction, repair, and dismantling of vessels.
- Auto Mechanics: Auto mechanics encountered asbestos-containing brake pads, clutches, and gaskets during vehicle repairs, risking exposure to asbestos fibers during maintenance tasks.
- Welders: Welders worked with asbestos-containing welding rods and insulation materials, leading to exposure to asbestos fibers during welding and cutting activities.
- Factory Workers: Factory workers handled asbestos-containing materials during production processes, risking exposure to asbestos fibers from insulation, gaskets, and machinery components.
- Steamfitters: Steamfitters encountered asbestos-containing insulation, gaskets, and valves while installing and repairing steam systems, leading to inhalation of asbestos fibers.
- Roofers: Roofers worked with asbestos-containing roofing materials, including shingles and sealants, risking exposure to asbestos fibers during installation and repair of roofs.
- Laborers: Laborers encountered asbestos-containing materials during various construction, renovation, or maintenance tasks, leading to exposure to asbestos fibers from insulation, flooring, and sealants.
- Painters: Painters encountered asbestos-containing paints and coatings during preparation and removal, risking exposure to asbestos fibers released during sanding or scraping activities.
- Carpenters: Carpenters worked with asbestos-containing materials like insulation, siding, and flooring during construction projects, risking exposure to asbestos fibers during cutting and installation.
- Machine Operators: Machine operators handled asbestos-containing machinery components during operation and maintenance, risking exposure to asbestos fibers from insulation and gaskets.
- Demolition Workers: Demolition workers faced exposure to asbestos-containing materials like insulation and flooring during demolition projects, leading to release of asbestos fibers into the air.
- Research Employees: Research employees worked in laboratories with asbestos-containing materials for experiments, risking e
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Steps to Apply to Babcock & Wilcox Asbestos Trust Fund:
- Determine Eligibility: Review the eligibility criteria outlined by the Babcock & Wilcox Asbestos Trust Fund. Ensure that you meet the requirements as a victim of asbestos exposure from Babcock & Wilcox’s products.
- Gather Documentation: Collect relevant documentation, including medical records, proof of diagnosis, evidence of asbestos exposure from Babcock & Wilcox’s products, and any other supporting materials required for your claim.
- Complete Claim Forms: Obtain the necessary claim forms from the trust fund’s website or through designated channels. Fill out the forms accurately and completely, providing detailed information about your asbestos exposure, medical condition, and related damages.
- Submit Claim: Submit your completed claim forms along with all supporting documentation to the Babcock & Wilcox Asbestos Trust Fund according to the specified submission guidelines. Ensure that you meet any deadlines for filing claims.
- Await Review: Allow time for the trust fund to review your claim thoroughly. The review process may involve assessing the validity of your claim, verifying documentation, and determining the extent of compensation based on established guidelines.
- Respond to Requests: Be prepared to respond promptly to any requests for additional information or clarification from the trust fund during the review process. Providing timely and accurate responses can help expedite the evaluation of your claim.
- Await Decision: Once your claim has been reviewed, await the decision from the Babcock & Wilcox Asbestos Trust Fund regarding the approval and amount of compensation. This decision will be communicated to you through official correspondence.
- Receive Compensation: If your claim is approved, you will receive compensation from the trust fund according to the terms and conditions outlined in the decision. The fund will arrange for the disbursement of funds to you or your designated beneficiaries.
- Seek Legal Assistance: If you encounter challenges during the application process or if your claim is denied, consider seeking legal assistance from professionals experienced in handling asbestos trust fund claims. They can provide guidance and representation to help navigate any issues that arise.
Why Working with an Experienced Mesothelioma Trust Fund Lawyer is Vital:
- Expertise: Experienced lawyers understand the complexities of trust fund laws and procedures, ensuring your claim is handled efficiently.
- Maximized Compensation: Attorneys advocate for your rights, aiming to secure the maximum compensation you deserve from the A & I Corporation Asbestos Trust Fund.
- Timeliness: Lawyers ensure your claim is correctly submitted and promptly processed, minimizing any unnecessary delays in receiving compensation.
- Legal Guidance: They provide valuable legal counsel, explaining your options and helping you make well-informed decisions throughout the claims process.
- Peace of Mind: Dealing with a mesothelioma diagnosis is already stressful. A lawyer can alleviate some of this burden by managing the legal aspects of your claim.
- No Upfront Costs: Most mesothelioma lawyers work on a contingency basis, meaning they only receive payment if you win compensation, easing any financial concerns associated with legal representation.
Remember, the A & I Corporation Asbestos Trust Fund can provide significant financial assistance during this challenging time. Working with a skilled attorney increases your chances of a successful claim outcome and ensures you receive the support you need.
Recent Mesothelioma Verdicts
- $4.6 Million Mesothelioma Settlement: For a union insulator who developed malignant Mesothelioma from asbestos exposure.
- $10.2 Million Mesothelioma Verdict: For a Paper Mill worker suffering from pleural Mesothelioma.
- $8 Million Mesothelioma Award: For a man diagnosed with Mesothelioma.
- $1.2 Million Mesothelioma Settlement: For a 76-year-old carpenter who developed malignant Mesothelioma.
- $1.1 Million Veteran Mesothelioma Settlement: For a Navy veteran machinist who developed malignant Mesothelioma at age 71.
- $245,000 Asbestosis Settlement: For a Paper mill worker suffering from Asbestosis.
- $2.5 Million Mesothelioma Settlement: For a union pipefitter man who died from malignant Mesothelioma.
- $2.6 Million Shipyard Worker Mesothelioma Settlement: For the family of a 72-year-old shipyard worker with Mesothelioma who suffered secondhand exposure.
- $5 Million Navy Veteran Mesothelioma Verdict: For a Navy Boilerman who developed Mesothelioma during his service.
- $1.8 Million Mesothelioma Settlement: For a carpenter who developed malignant Mesothelioma at age 68.
- $7.5 Million Mesothelioma Verdict: For a woman who developed peritoneal Mesothelioma from laundering her husband’s work clothes.
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Settlement Averages for Mesothelioma Lawsuits
The average verdict in a mesothelioma lawsuit is about $2.4 million, and the average settlement is between $1 million and $1.4 million according to Mealey’s Litigation Report.
Diagnosed With Mesothelioma?
Being diagnosed with mesothelioma can be overwhelming, but understanding your legal options is crucial. Asbestos trust funds are designed to provide compensation for mesothelioma victims. These funds hold over $30 billion to support those affected by asbestos exposure. Consulting an experienced mesothelioma lawyer is essential in navigating the complex process of filing a claim. They can help determine eligibility, gather necessary evidence, and ensure your claim complies with trust fund requirements. These funds offer financial relief for medical expenses, lost income, and suffering caused by asbestos-related diseases. Seeking legal guidance can ease the burden during this challenging time.
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Mesothelioma Claims: Mesothelioma Damages
If you’ve received a diagnosis of Mesothelioma, it’s crucial to understand that you may be eligible to seek compensation for a wide range of damages. This guide will help you navigate the complex world of Mesothelioma claims, offering insights into the various types of damages you may be entitled to recover. From Mesothelioma-specific damages to economic, medical, and even punitive damages, we’ll break down what each entails, ensuring you have the knowledge you need when considering legal action. Your journey to seeking rightful compensation starts here.
TAKING LEGAL ACTION
When confronted with the devastating impact of a mesothelioma diagnosis resulting from asbestos exposure, pursuing legal action becomes a crucial step towards securing the compensation you rightly deserve. Our team is here to assist you in initiating a mesothelioma lawsuit with an experienced mesothelioma attorney, ensuring the protection of your rights and the delivery of justice. Discover today which Asbestos Trust Funds you may be eligible for to receive compensation.
SCHEDULE A FREE CASE CONSULTATION
Scheduling a free case consultation is your first step toward seeking justice in mesothelioma cancer lawsuits. We are ready to assess your unique situation and provide the guidance you will need during this challenging time. Take this essential step toward pursuing fair compensation for your mesothelioma-related injuries.
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When dealing with the complexities of mesothelioma cancer lawsuits, getting help from an experienced injury attorney is crucial. For more than 24 years, we have assisted workers, veterans, and families in obtaining the compensation they deserved from negligent asbestos companies. Contact us at 888.640.0914 to secure the support you will need throughout your pursuit of fair and just compensation.
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