What Are Mesothelioma Settlements?
Mesothelioma settlements are one way to conclude a lawsuit.
Through a mesothelioma settlement, manufacturers of asbestos-containing products agree to pay a victim a certain amount of money. This amount of money is determined through negotiations between the manufacturers’ lawyers and mesothelioma lawyers.
Most mesothelioma settlements range from $1 Million to $1.4 Million, according to recent reports. These amounts represent the total sum of money that all the manufacturers named in the lawsuit had to pay.
Lawyers typically prefer mesothelioma settlements because:
- They are fast: Most people diagnosed with mesothelioma have only a few years (or months) to live. Settlements may allow patients to receive compensation in under a year’s time, so they can pay their medical bills and keep their families financially secure.
- They are effective: The costs of treating mesothelioma can exceed $500,000. Average settlements may be able to cover not only these medical costs but other related expenses (such as a loss of income and emotional distress) too.
- They hold manufacturers accountable: Manufacturers of asbestos-containing products knew the material was dangerous but orchestrated an industry-wide cover-up so they could continue making money. Through a settlement, these manufacturers agree to pay for the harm they caused.
- They are less risky than a trial: Most mesothelioma lawsuits end through out-of-court settlements or trial verdicts. Through a trial, a judge and/or jury may side with either the victim or the manufacturer being sued. If the victim loses the case, they may receive no money from that manufacturer.
By working with an experienced mesothelioma lawyer, victims may be able to receive a settlement that covers all or most of their medical expenses.
While there are no guarantees that a settlement will be reached, mesothelioma lawyers have the skills, resources, and experience necessary to build strong cases that may result in favorable settlements.
Quick Facts About Mesothelioma Settlements
- Mesothelioma settlement amounts vary depending on how, when, and where a person was exposed to asbestos, along with other factors.
- 95% of mesothelioma cases settle out of court.
- Both personal injury mesothelioma lawsuits and wrongful death mesothelioma lawsuits can reach settlements.