Many companies now facing asbestos lawsuits did not make asbestos or use it heavily in their products.

But American companies and insurers have spent well over $30 billion to defend and settle asbestos lawsuits.

In return, the companies receive permanent protection from asbestos lawsuits.

Four years later, he served on a panel that urged Congress to help prevent thousands of asbestos lawsuits from overwhelming the court system.

The fund would end asbestos lawsuits and pay according to a set schedule.

The trust would end all asbestos lawsuits and instead pay people with asbestos-related diseases according to a set payment schedule.

In return for financing the trust, businesses and insurance companies would no longer face asbestos lawsuits in state or federal courts.

It would stop the flood of asbestos lawsuits, 200,000 in the last two years alone, that have strained businesses and the court system.

Congress has for years tried without success to adopt legislation to address the growing number of asbestos lawsuits.

Even if big limitations on asbestos lawsuits are not passed, businesses in general will gain from a more conservative federal judiciary, he said.