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Protecting Asbestos Victims: Combating Fraud in Compensation Trusts

This act aims to increase oversight of asbestos victim compensation trusts to prevent fraud. This will better protect funds intended for victims, and individuals attempting to defraud these trusts will face stricter legal consequences. Citizens can expect greater transparency and fairness in the compensation payout process.
Key points
Increased oversight of asbestos victim compensation trusts to prevent fraudulent claims.
Introduction of penalties for making false claims or providing false information related to these trusts.
Facilitating access to information about trust payments for parties involved in asbestos exposure cases.
Requirement for trusts to determine if claimants are eligible for Medicare benefits and to submit relevant data.
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Additional Information
Print number: 117_S_574
Sponsor: Sen. Tillis, Thomas [R-NC]
Process start date: 2021-03-03