What Is The Average Settlement For Asbestos Claims? (2024)

Explore the evolution of median awards and settlements in asbestos cases, covering mesothelioma, talcum powder lawsuits, and evolving gender dynamics.

Research Team

ConsumerShield

March 14, 2024 Read in 2 mins

Median Asbestos Award Amounts by Year, 2010-2022

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Source: Mealey’s® Litigation Report: Asbestos

Research

The Landscape of Asbestos Claims

Asbestos claims frequently result from illnesses such as mesothelioma, a severe cancer primarily linked to asbestos exposure. Additionally, these cases often extend to include Talcum Powder Lawsuits, where asbestos contamination is alleged in talc based powder products. For those impacted, understanding the average settlement amounts in asbestos claims is crucial.

Fluctuations and Growth in Asbestos Award Amounts

According to Mealey's Asbestos Litigation Report 2022, between 2010 and 2022, median asbestos award amounts showed notable fluctuations, beginning at $3.2 million and reaching a peak of $7.7 million by 2022. Despite some years seeing declines, the overall trend indicates a significant increase, culminating in a steep rise towards the end of the period. This highlights the evolving landscape of asbestos litigation and compensation.

Average Asbestos Settlement Amounts

The majority of asbestos claims are resolved before reaching trial. The report indicates that the average pre-trial settlement for an asbestos claim, especially those related to mesothelioma, typically ranges between $1 million and $2 million. These settlement amounts are designed to compensate for damages such as medical expenses, lost wages, and pain and suffering.

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Gender Trends in Asbestos Litigation

Data from 2014 to 2023 demonstrates a significant shift in the gender distribution of asbestos-related filings. Historically dominated by male claimants due to occupational exposure, there has been a noticeable increase in female claimants in recent years. This change is possibly attributed to secondary exposure risks and the use of talc-based feminine hygiene products, which have also been linked to various cancers.

Looking Ahead

The trends in asbestos litigation, including mesothelioma and talcum powder lawsuits, continue to evolve. As legal strategies and medical understandings develop, so too do the patterns in settlements and verdicts.

Conclusion

Understanding the average settlement for asbestos claims is crucial for those seeking compensation. While pre-trial settlements offer a quicker resolution, trial verdicts might result in higher compensation but with greater risk. Asbestos litigation, including mesothelioma and talcum powder lawsuits, remains a significant legal field, reflecting the evolving awareness of occupational and secondary asbestos exposure risks.

Disclaimer: This content summarizes trends in asbestos litigation and settlements from 2010-2023 for informational purposes only. It is not legal advice. For personal legal matters, consult a professional.