For asbestos exposure victims, a mesothelioma settlement can help them pay the many costs incurred during diagnosis, treatment, to replace lost wages/salary, attorney fees, to help their families recover from financial hardships, and to secure their financial future.
Majority of mesothelioma lawsuits are usually settled before going to trial. This decision is often made as most victims and the companies involved try to avoid a potentially lengthy procedure that may even end up incurring extra costs.
Why Consider a Mesothelioma Settlement?
With a settlement, you have a guarantee of getting financial compensation, unlike with a verdict. Speedy payment is also another advantage since involved parties choose to avoid potentially lengthy and expensive trials.
Also, settlements remain confidential- only the victim, liable party, and legal representatives are aware, unlike with lawsuits which end up in court.
Recent Mesothelioma Settlements
Over the past few years, however, mesothelioma settlement amounts have been steadily increasing as things like medical costs, lost income, and longer life expectancies are now being taken into consideration.
Now it’s difficult to estimate the average settlement amount as many factors such as the victim’s state, occupation, the age of the victim, including others are taken into consideration.
Let’s have a look at the approximate amounts of recent mesothelioma settlements negotiated by the involved parties.
A Coast Guard and Engineer hailing from Illinois filed a lawsuit after being diagnosed with mesothelioma which was as a result of asbestos exposure at his workplace. After negotiations with the accountable party, he was awarded $8.8 million in compensation to cover medical expenses, replace lost wages, and secure his financial future and that of his family.
A plantworker from the state of Illinois was awarded a total of $6.8 million after filing a claim against the company after exposure to asbestos in the plant.
A 66-year-old pipefitter from California received $11.7 million in compensation after filing a claim against the company he was working with. This was after he was diagnosed with mesothelioma.
A 63-year-old Household Technician from California received a total compensation of $6 million from the company he was working for after he was diagnosed with asbestos cancer.
A carpenter aged 63 in California received over $6 million in compensation after settling an asbestos exposure case with the accountable company.
A 66-year-old Army Bystander was awarded $11.75 million in compensation after filing a claim due to asbestos exposure while working as an Army Bystander. The settlement was to be used to pay medical bills, replace lost income, and secure his family’s financial future.
A 49-year-old Navy Dry Wall Sprayer received $9.5 in compensation to help cover medical bills and as a replacement for lost income after becoming ill with mesothelioma after years of exposure at his workplace.
A 53-year-old plumber/mechanic in California was awarded a settlement totaling $13.1 million in compensation after filing a claim after asbestos exposure while on the job.
After he was diagnosed with mesothelioma after prolonged exposure at his workplace, a 56-year-old electrician from the state of Connecticut was awarded $3.1 million in compensation.
A 71-year-old Pipe Organ Builder from New York received a mesothelioma settlement amounting to $3.3 million after exposure to asbestos at his workplace.