A Look at Mesothelioma Insurance Claims

In the United States and much of the world, asbestos was used very heavily in most aspects of construction. It was also used in a wide variety of consumer, commercial and industrial products. The reason it was so prevalent was because it’s a cheap, naturally-occurring substance that has a remarkable ability to resist heat, fire, caustic chemicals and electricity.

However, in addition to all of these helpful properties, it also causes cancer. These days, most people are aware that exposure to asbestos causes malignant mesothelioma, but this was a closely guarded secret for much of the last century. Those in asbestos industry were well aware of the dangers of asbestos, but since they also knew it would take between 20 and 50 years for people to get sick, they were willing to take that chance and pay later if necessary. 

When they eventually had to pay up, it caused a lot of companies to go bankrupt. However, not all of the damages were paid by the companies that produced asbestos. Many had what are now known as “historic policies.” According to a recent news article from the Financial Times, these claims are now costing the insurance industry $15 billion more than had initially been projected.

The reason for this, as our Boston mesothelioma attorneys can explain, is because thousands of people are still getting diagnosed with mesothelioma each year, and many of those people are dying. While the insurance companies had hoped the partial ban on asbestos would result in a slowdown of the number of victims being diagnosed each year, that does not appear to be the case.

Since insurance companies make money by selling policies and trying to pay out less in claims than they earn in revenue, it is not hard to imagine how they are tired of paying out claims when people develop malignant mesothelioma. According to one recent study, the insurance companies have already paid out nearly $65 billion, and that number is still rising to about $100 billion, which is the new estimate.

One the reasons they were wrong on the estimates is because they were only making calculations based upon the number of workers they estimated were exposed to asbestos. What they failed to account for was children of those workers who were exposed through their parents and other relatives who came home from work each night still covered in the deadly asbestos fibers. This type of exposure to asbestos is called “take home” exposure in mesothelioma lawsuits.

In addition to this emerging class of mesothelioma claimants, there are also all of the people who are currently residing in structures that are filled with asbestos and are in a crumbling and dilapidated state. It is a sad reality that many of these people will one day develop the deadly form of cancer. For these reasons, it appears that it will be a very long time before we are no longer seeing victims of asbestos exposure.

Mesothelioma and asbestos

Mesothelioma is a rare and aggressive form of cancer which kills around 2,400 people in the UK each year. It is usually caused by exposure to asbestos, which often occurs in the workplace. Insurers pay out £200 million a year to mesothelioma sufferers.

Asbestos is a material that was commonly used in the manufacturing and construction industries between the 1950s and the 1980s. People who worked in these industries during this time were regularly exposed to asbestos, inhaling asbestos dust and fibres over a prolonged period of time. It later emerged that the inhalation of asbestos was the main cause of mesothelioma.

Mesothelioma is a cancer which affects the lungs or the lining of the stomach. It is almost always fatal, with most sufferers dying within two years of diagnosis. There is currently no known cure for mesothelioma – treatment usually focuses on relieving a sufferer’s symptoms and improving their quality of life.

Mesothelioma sufferers can make compensation claims against the employer for whom they were working at the time they were exposed to asbestos. Mesothelioma has a long latency period – that is the time between a person’s initial exposure to asbestos and the development of the disease – usually between 30 and 40 years. This can mean that the employer in question no longer exists. In such cases, the mesothelioma sufferer can submit a claim to their former employer's employers' liability insurer. 

The insurance industry is committed to helping people with mesothelioma and their families to get the support they need. The ABI is campaigning to reform the compensation process for mesothelioma sufferers. We are working with the Government and insurers to make the compensation process quicker and easier for mesothelioma sufferers through measures including:

Supporting medical research

Insurers have donated over £3 million over the last three years to the British Lung Foundation (BLF)’s research into a cure for mesothelioma. 

Raising awareness of asbestos exposure at work and in the home

Insurers have funded the BLF’s ‘Take five and stay alive’ campaign which raises awareness of dangers of asbestos exposure among those most at risk for example, DIY enthusiasts and tradespeople such as plumbers and electricians.

Reforming the legal system

The legal process for mesothelioma claims can be complex, lengthy and expensive. The insurance industry is campaigning for improved processes that will allow mesothelioma sufferers to settle their cases more quickly.

Tracing insurers and former employers

Mesothelioma sufferers may find it difficult to track down their former employer’s employers' liability insurer if the company has gone out of business. In April 2011 the insurance industry set up the Employers’ Liability Tracing Office (ELTO) to help people find insurers if their former employer is no longer in business. The ELTO has a database of millions of insurance policies from all past and present employers' liability insurers. The service has made tracing policies considerably easier for mesothelioma sufferers.

Over the next few month the ABI and the ELTO will be introducing further improvements .These will include a committee to analyse claimants' evidence of the existence of their former employer's employers' liability policy in the absence of the policy itself.

Mesothelioma Support Scheme

In January 2014 the Government passed the Mesothelioma Act 2014legislation to establish the Diffuse Mesothelioma Payment Scheme (DMPS). The scheme is funded by the insurance industry and will make payments to around 3,000 mesothelioma sufferers who cannot find an employer or insurer to claim from. Mesothelioma sufferers diagnosed after 25 July 2012 who are unable to trace an insurer or compensator are eligible to make a claim under the scheme. The first payments will be made in July 2014. A levy imposed on employers' liability insurers will fund the scheme at an estimated cost of £35 million a year. For more information see the DMPS website. 

Next steps

if you have been diagnosed with mesothelioma speak to a claimant lawyer about making a claim against your former employer

if your former employer has gone out of business, you may be able to track down their insurer through the Employers’ Liability Tracing Office (ELTO

go to the DMPS website for further information

Obamacare insurer expands, but big questions loom as rate deadline hits, GOP pushes health plan

While Republicans in the Senate are getting ready to unveil their health reform bill, insurers on the Obamacare exchanges have been revealing their plans for next year ahead of Wednesday's deadline to file initial 2018 rate requests.

"This may be the most closely watched rate filing since the first year of the ACA marketplaces," said Katherine Hempstead, a senior advisor at the Robert Wood Johnson Foundation. "They are rightly seen as important signals about the viability of the individual market in its current form."

Four-year-old health insurance start-up Oscar Health has decided that the Obamacare markets are still viable, and is planning to expand coverage next year.

"We are spending 98 percent of our days thinking about 'what does the product look like? What network can we build?'… and 2 percent worrying about the regulatory framework," Oscar Health CEO Mario Schlosser said.

Oscar is planning on launching in two new states next year, announcing Wednesday morning that it will offer coverage in the greater Nashville area in Tennessee, in addition to its new joint venture to offer a plan with the Cleveland Clinic in northeast Ohio.

But Oscar's expansion won't extend to some of Ohio's potentially bare counties, in the southeastern part of the state, where Anthem's decision to withdraw from the state's Obamacare exchange next year could leave some markets with no insurer.

"We've really got to make sure that our unique strategy around how we build networks … also works," said Schlosser.

Centene announced that it would be expanding coverage into Ohio and Missouri, but a spokeswoman for the insurer said it is still working out which parts of those states it will cover

As of Wednesday's deadline, roughly two dozen counties in northwest Missouri had no insurers filing to provide 2018 coverage, according to an analysis by researchers at the Kaiser Family Foundation.

"It is entirely possible that Centene or other insurers could move into some counties that appear to be at risk of having no insurer," said Cynthia Cox, the foundation's associate director. "Consumers in these counties shouldn't worry too much yet, as there is still time for insurers to change their service areas. Companies don't get locked in until early fall."

In Washington state, two counties had been facing no insurer coverage, but earlier this week Premera Blue Cross reportedly reversed course, and agreed to remain in one of those counties, Grays Harbor. 

"I really feel for a number of our insurance companies, because it's not that they don't want to be participating," said Michael Marchand, chief marketing officer of the Washington Health Benefit Exchange. "It's the uncertainty in the marketplace."

Insurers in the state are asking for a 22 percent increase for next year on average. States insurance officials say the carriers are trying to price in risk that they may not be reimbursed by the Trump administration for cost-sharing reduction subsidies that lower out-of-pocket costs for lower-income enrollees.

"As a result, we're seeing an increase in premiums because it's essentially the insurance companies hedging their bets that there may be the potential for them to have to pick up that CSR costs," said Marchand, referring to the subsidies.

For state regulators and insurers, the question of funding for the subsidies will be a key issue that will hang over rate reviews and the final push toward open enrollment just over four months from now.

"If a way is not found to pay them for 2018 there will losers, but no winners," said Hempstead. "The biggest losers will once again be the unsubsidized customers, who will be exposed to the entire premium increase with no relief."

For that reason Oscar's Schlosser is convinced the Trump administration and Republicans will find a way to fund the payments next year.

"From a common sense perspective, I really think when the dust settles, there will be a stable individual market. And compassion and reason will prevail on that," he said.

Go Beyond Car and Home Insurance this Monsoon

After keeping all the monsoon lovers waiting, monsoon season has finally arrived. The parched lands are getting the much-needed water. The rains bring relief from the scorching heat, often it leaves behind a long trail of damages and losses. The roads get clogged, inundation, damage caused to the property and automobiles because of tree uprooting etc. creates a havoc. Water-borne ailments spread like a wildfire and diseases spread by mosquitoes show their ugly side.

The insufficient insurance coverage against such risks can add up to your woes. It is better to be protected than regretting later.

This article will be your guide in order to monsoon-proof yourself.

1. Rain-Proof Your Health

Did you know 70 percent cases of malaria in the South-East Asian region are reported to be in India? Approx 5.8 million Indians become victims of deadly dengue every year and the maximum cases are diagnosed during the monsoon. The story doesn’t end here; thousands of Chikungunya cases are also reported.

Aquaplaning and potholes are the main reasons behind the road mishaps. These facts and figures show that health insurance is the need of the hour. One can be extra careful from his/her side but can still fall prey to monsoons’ woes.

A health insurance plan is loaded with various benefits, such as hospitalization, additional covers and much more. Reports suggest that during the monsoon season, claims are increased by 10 percent because of water-borne illness and diseases caused by mosquitoes. Safeguard yourself and your family with medical insurance and stay tension-free.

2. Travel Plans can Change

Clouds and the sun play hide and seek frequently and the weather has to pay the price for their mischief. Constantly changing weather challenges your travel plans and you might have to change your plans accordingly. Changing weather affects domestic travel plans more than it affects the international ones. When you are traveling within the country, the weather conditions may affect your travel.

When you are traveling, you are exposed to so many risks. Apart from that, India witnesses a large number of road and train mishaps. Travel insurance plans provide coverage for the domestic travel delay because of weather change, missed connections because of bad weather or any kind of change of plans because of natural disasters.

3. Monsoon Effect on the Automobiles

A comprehensive automobile insurance plan covers own damage as well as offers coverage for any third-party liability. Perhaps, it is adequate for the small repairs due to small damages. It doesn’t provide coverage for any monsoon-associated risk. In rains, it is common that the engine damages because the driver tries to drive the automobile when flood water is accumulated on the road. It lets water in the vehicle’s engine and disrupts its functioning. These engine damages aren’t covered by a comprehensive insurance plan. The insurance providers offer additional covers for the automobile insurance, which creates a shield that keeps financial burden far away.

An additional cover like engine protect is ideal for the monsoon season. During heavy rains, major damages are caused to the engine. Engine protect cover takes care of such damages. Another additional cover return to invoice compensates the policyholder with the ex-showroom cost of the vehicle if a total loss is caused to the automobile because of the damage caused by falling of a tree and it is damaged beyond repair.

4. Protect your Home Sweet Home

Home is where your heart is. A home is very precious and it costs lakhs or even crores. It isn’t safe from the calamities, such as floods, inundation, lightening etc. These disasters last for a few hours and they have potential to wash off your bank balance. Home insurance policy provides coverage to the external structure of your house along with the home contents, such as appliances, furniture, and jewelry. Monsoon season most of the times is accompanied by floods and inundation that affect homes severely in rural as well as in urban areas.

The Bottom Line!

The yearly premium of the policy depends totally on the coverage duration, built-up area of a house, construction cost and contents’ as well as valuables’ cost, valued at their current market prices. You can insure your home and its contents by paying a nominal premium amount. Various insurance providers offer long-term home insurance policies that can be extended to last up to 10 years. Some plans come with the provision of hiking up the sum insured by 10 percent on a yearly basis. Stop waiting for the after effects of a disaster to realize you the importance and need of home insurance.

Life Insurance Basics

Unfortunately, death, like taxes, is a certainty for us all. Sure that sounds depressing, but it could be a whole lot worse– like leaving the family behind with an unpaid mortgage, a mountain of bills and those mind-numbing tuition costs.

Making sure your loved ones are financially provided for after you’ve unexpectedly shucked the mortal coil is the motivation behind life insurance policies. Life insurance provides a “death benefit” which can be used to take care of that mortgage, the bills… even the kid’s tuition. In effect, this policy substitutes for income lost due to the insured’s untimely death.

Two basic coverages are available:

Term. This protection typically extends from one to thirty years, paying a death benefit only if you die during the term of coverage. Term premiums are usually more affordable than the alternative (permanent insurance) allowing more bang for the buck and putting the coverage where it’s most needed– when the kids are young. The cost of term does go up, however, every time the policy is renewed, which could become cost inefficient once you reach those golden years.

Permanent. The premium for this insurance is typically locked at the age when the policy is first written, which means your cost remains constant for the duration (as long as you stay current). Although permanent coverage costs more than term, the cost doesn’t increase with age– a nice hedge against inflation. These policies also accumulate cash value as they mature, and the insured can borrow against that cash value in the form of low-interest loans.

Insurance experts say the amount of insurance you’ll need should be based on how much money you make. The rule of thumb suggests protection five to eight times annual income, but make sure to discuss all coverage options with your agent. When figuring coverage you should consider your family’s needs once you’re gone, including all ongoing costs your spouse and children can expect down the road. Remember to factor in those immediate after-death expenses like medical and funeral bills. Also ask about mortgage insurance, which is coverage that pays off the note if you pass away before you’ve completed all payments.

Life insurance is sold through agents or directly from the company– including over the Internet. But no matter where you make your purchase, don’t forget to solicit and compare price quotes from at least three different companies.

Good luck, stay healthy… and eat your vegetables.