NARCO Asbestos Trust Fund and Mesothelioma Claims
The NARCO Asbestos Trust Fund was established to provide compensation to individuals suffering from asbestos-related diseases, including mesothelioma, due to exposure to products manufactured by the North American Refractories Company (NARCO). Mesothelioma claims against the trust fund are processed to provide financial support to victims and their families affected by NARCO’s asbestos-containing products. NARCO was a major producer of refractory products, including firebrick, insulation, and other heat-resistant materials, commonly used in industrial settings such as steel mills, foundries, and power plants. Workers exposed to these products faced significant risks of inhaling asbestos fibers, leading to the development of mesothelioma and other asbestos-related diseases.
The NARCO Asbestos Trust Fund operates under established guidelines to evaluate and compensate claimants fairly based on the severity of their injuries and exposure history. Claimants must provide evidence of diagnosis through medical documentation, including pathology reports and physician statements confirming mesothelioma diagnosis. Additionally, exposure evidence such as employment records and witness affidavits linking the claimant’s exposure to NARCO’s asbestos-containing products is required to support the claim. The trust fund aims to provide comprehensive assistance to victims and their families while ensuring the financial stability and sustainability of the trust for future claimants.
NARCO Asbestos Trust Fund Key Information
Founded: 1929
Head Quarters: Cleveland, Ohio
Turn out: Various Refractory Products
Operating status: Still Currently Operating
Asbestos Trust: Yes
Trust began: 2013
Trust Amount: $6.32 Billion
History of NARCO Asbestos Trust Fund
After NARCO filed for Chapter 11 Bankruptcy in 2002, they made a plan to reorganize. In 2008, they officially reorganized and in 2013, they began the NARCO Asbestos Trust Fund. The trust was funded with $6.32 billion. The current payment percentage for successful claims is 100%. Most payment percentages are not usually set this high. Every case is evaluated based on various factors inducing age, exposure, and illness.
Honeywell, the company that acquired NARCO in 1979 was responsible for their products during the merge. This included the brake pads and linings that NARCO manufactured from the 1970s to the 1980s.
Asbestos Litigation
NARCO may have eventually stopped using asbestos in their products, but their previous history quickly caught up to them. The company soon started accumulating asbestos-related illness lawsuits from past employees. By the start of the 2000s, the company had over 270,000 asbestos claims and reached agreements with them. They were able to handle around 90% of them. By 2002 the company was forced to file for Chapter 11 Bankruptcy.
Occupational Exposure
Since products containing asbestos were highly prevalent in Pittsburgh Corning, many individuals, including workers and the general public, were put at risk. Since the company expanded quite quickly, there were multiple plants where individuals may have come into contact with asbestos materials. Some workers were exposed on a routine schedule, and due to effects have asbestos-related health complications. Various occupations that may have been affected include: Aluminum Plant Workers, Construction Workers, Navy Veterans, Paper Factory workers, Pipefitters, Shipyard Workers, Railway Workers, Steel Mill Workers, Boilermakers, Rubber Factory Workers, Industrial Plant Workers, Automobile Factory Workers, Textile Mill Workers, Oil Refinery Workers, Power Plant Workers, Steamfitters, and Members of the Armed Forces.
Asbestos Products and NARCO
- NARCO Aerogun 1971-1979
- NARCO Anti-Erode 1963-1977
- NARCO BOF-Cote 1966-1975
- NARCO BOF-Patch 1965-1975
- NARCO CM Gun Mix 1963-1973
- NARCO CM-18 Gun Mix 1963-1977
- NARCO MC Gun Mix 1963-1975
- NARCO Narcmag OH Gun Mix 1974-1976
- NARCO Super 505 Hot Gun C 1964-1977
- NARCO WO-339 McGun 1964-1975
- NARCO Narcocast Es Fine Trowel 1963-1977
- NARCO Narcocrete Trowel 1963-1977
- NARCO Narcogan CM-343 1964-1977
- NARCO Narcogan MCD-344 1964-1975
- NARCO Narcolite 1961-1977
- NARCO Narmag 60 DBRC 1970-1980
- NARCO Narmag OH Gun Mix
- NARCO Staz-On Cement
- NARCO Super 505 Hot Gun C 1964-1977
- NARCO Uni-Cote Cement
- NARCO WO-339 McGun 1964-1975
TO GET HELP – Call Our Nationwide Toll-Free Mesothelioma Helpline – 888.640.0914
How Do Mesothelioma Trust Funds Work?
Asbestos exposure victim’s diagnosed with mesothelioma and other asbestos-related diseases can submit their claims to asbestos settlement trusts belonging to the bankrupt asbestos companies responsible for their illness. Surviving relatives of mesothelioma that have died from asbestos exposure are also eligible to submit claims to responsible asbestos trust funds.
After submitting a claim, asbestos trust funds decide whether to pay a claim. The decision to pay a claim is made separate from the company that created the trust fund.
Quick Facts About Asbestos Trust Funds
- There are more than 65+ Asbestos Trust Funds set up by U. S. Courts.
Asbestos bankruptcy reorganization can be a lengthy process that can span several years. - Asbestos Trusts publish additional information about their Trust guidelines, qualifications and rules.
- Representatives of current and future Mesothelioma claimants must consent to any significant changes to these trusts.
- Since 1988, Asbestos trusts have paid out about $17.5 billion representing more than 3 million claims.
- Since 2011, Asbestos Trust Funds have combined assets of $36.8 billion.
- Since 2010, the average percentage paid per asbestos victim is 25 percent of a claim.
- Asbestos Trust Funds set Statutes of Limitations that only allow a certain amount of time to file an Asbestos claim.
- Mesothelioma Claimants can sometimes file both Asbestos Trust lawsuits and Asbestos claims.
- U. S. Courts must approve the amount that is set aside before the Asbestos company will be granted bankruptcy protection.
Evidence Required to File an Asbestos Trust Fund Claim:
- Diagnosis: Medical documentation, including biopsy information and pathology reports, confirming mesothelioma or asbestos-related disease diagnosis.
- Physician Statement: Signed statement from a doctor or mesothelioma specialist confirming the diagnosis and linking it to asbestos exposure.
- Exposure Evidence: Witness affidavits, employment records, or company invoices demonstrating exposure to asbestos-containing products or environments.
- Product Identification: Documentation identifying the specific asbestos-containing products or materials encountered by the claimant.
- Work History: Employment records or testimony establishing the claimant’s history of working with or around asbestos-containing materials.
- Medical Records: Records of medical treatments, tests, and examinations related to the mesothelioma diagnosis and asbestos exposure.
- Proximity Evidence: Documentation or testimony showing the claimant’s proximity to asbestos-containing materials or environments.
- Expert Testimony: Statements or reports from medical or occupational health experts supporting the link between asbestos exposure and the development of mesothelioma.
- Witness Testimony: Testimony from coworkers, supervisors, or others familiar with the claimant’s work environment and exposure to asbestos.
- Photographs: Photographic evidence of asbestos-containing products, equipment, or work environments encountered by the claimant.
- Personal Statements: Written or recorded statements from the claimant describing their work history, exposure to asbestos, and resulting medical condition.
- Death Certificate (for wrongful death claims): If the claim is filed on behalf of a deceased individual, a death certificate confirming the cause of death, such as mesothelioma, may be required.
Mesothelioma and Asbestos Exposure
- Malignant Mesothelioma is commonly diagnosed in people between the ages of 50 and 75 years old.
- There are 3000-3,500 malignant Mesothelioma cases diagnosed each year in the United States.
- 1 in 3 U. S. military veterans will develop an asbestos related disease in their lifetime.
- NARCO Asbestos Trust Fund and Mesothelioma Claims
Mesothelioma Claims: Mesothelioma Damages
Mesothelioma claims involve seeking compensation for the damages caused by mesothelioma, a type of cancer often linked to asbestos exposure. These damages can include medical expenses, lost wages, pain and suffering, and in some cases, punitive damages. Seeking compensation through legal action can help mesothelioma patients and their families alleviate financial burdens and hold responsible parties accountable for the harm caused by asbestos exposure.
Disfigurement Damages (past and future): Asbestos trust funds provide compensation for disfigurement resulting from mesothelioma, covering visible physical changes like scarring or disfigurement from surgeries or treatments, both historically and anticipated in the future.
Economic Damages (past and future): These damages from asbestos trust funds address the financial losses incurred due to mesothelioma, including medical expenses, lost wages, and reduced earning capacity, both historically and projected into the future.
End of Life Cost Damages: Asbestos trust funds cover the expenses associated with end-of-life care, including medical care, hospice services, and other end-of-life needs for individuals suffering from mesothelioma.
Exemplary Damages: Asbestos trust funds may provide exemplary damages, also known as punitive damages, to punish the asbestos companies for their misconduct and deter future negligence in handling asbestos-related cases.
Funeral Expense Damages: Funeral expense damages from asbestos trust funds cover the costs of funeral and burial services for individuals who have died from mesothelioma, easing the financial burden on their families.
Future Economic Damages: These damages provided by asbestos trust funds account for anticipated financial losses such as ongoing medical treatment, loss of future earnings, and other related expenses for individuals affected by mesothelioma.
General Damages: Asbestos trust funds compensate for general damages, including pain and suffering, mental anguish, loss of enjoyment of life, and other non-monetary impacts of mesothelioma on affected individuals and their families.
Gross Negligence Damages: In cases of gross negligence, asbestos trust funds may provide additional compensation to punish the responsible parties for their particularly reckless conduct in exposing individuals to asbestos.
Loss of Companionship: Asbestos trust funds provide compensation for the loss of emotional support, love, and companionship suffered by family members due to the mesothelioma-related death of a loved one.
Loss of Consortium Damages: These damages from asbestos trust funds address the negative impact of mesothelioma on the relationships of affected individuals with their spouses or partners, compensating for the loss of companionship and support.
Loss of Earning Capacity Damages: Asbestos trust funds cover the reduction in an individual’s ability to earn income in the future due to mesothelioma, considering factors such as disability and shortened life expectancy.
Loss of Life Damages: Asbestos trust funds provide compensation for the premature loss of life resulting from mesothelioma, acknowledging the value of the deceased individual’s life and the impact of their death on their family.
Loss of Wages Damages (past and future): These damages from asbestos trust funds cover the income lost by individuals due to mesothelioma, both historically and projected into the future, ensuring that financial losses are fully accounted for.
Medical Expense Damages: Asbestos trust funds reimburse individuals for the costs of medical treatment related to mesothelioma, including surgeries, chemotherapy, medications, and other necessary medical care.
Mental Anguish Damages: Asbestos trust funds compensate individuals for the emotional pain, suffering, and psychological trauma caused by mesothelioma, including anxiety, depression, and distress resulting from the illness.
Monetary Compensation Damages: Asbestos trust funds provide financial restitution to individuals and families affected by mesothelioma, encompassing both economic and non-economic damages awarded in a lawsuit.
Nominal Damages: Nominal damages from asbestos trust funds are symbolic awards granted when the injury is minor or no actual financial loss has been incurred, serving as a recognition of legal rights rather than substantial compensation.
Non-Economic Damages: Asbestos trust funds compensate for non-economic losses such as pain and suffering, emotional distress, loss of enjoyment of life, and loss of companionship, providing financial relief for these intangible impacts.
Pain and Suffering Damages: Asbestos trust funds compensate individuals for the physical pain, discomfort, and emotional distress caused by mesothelioma, including symptoms such as chest pain and difficulty breathing.
Pecuniary and Non-Pecuniary Damages: Asbestos trust funds cover both pecuniary losses such as medical expenses and lost wages, as well as non-pecuniary losses like pain and suffering, providing comprehensive compensation for mesothelioma victims.
Physical Impairment Damages (past and future): These damages from asbestos trust funds address the physical limitations and disabilities resulting from mesothelioma, both historically and anticipated in the future, ensuring full compensation for the impact on quality of life.
Punitive Damages: Asbestos trust funds may provide punitive damages to punish the responsible parties for their misconduct in exposing individuals to asbestos and deter similar behavior in the future.
Treble Damages: In cases of egregious conduct, asbestos trust funds may award treble damages, allowing for the recovery of three times the amount of actual damages to further punish the responsible parties.
Workers Compensation Damages: Asbestos trust funds provide financial benefits to individuals who suffer from mesothelioma due to exposure in the workplace, covering medical expenses, lost wages, disability benefits, and vocational rehabilitation services.
Wrongful Death Claims: Asbestos trust funds compensate the surviving family members of individuals who have died from mesothelioma, covering financial losses such as funeral expenses, loss of income, and loss of consortium.
TO GET HELP – Our Nationwide Toll-Free Mesothelioma Helpline Number is 888.640.0914
Settlement Averages for Mesothelioma Lawsuits
The average verdict in a mesothelioma lawsuit is about $2.4 million, and the average settlement is between $1 million and $1.4 million according to Mealey’s Litigation Report.
Diagnosed With Mesothelioma?
If you or a family member has received a diagnosis of malignant mesothelioma, you probably have numerous questions about managing the illness and pursuing legal recourse against asbestos manufacturers and companies accountable for your asbestos exposure. Mesothelioma is an extremely lethal disease, with an average survival time of 4-18 months, as per the American Cancer Society. Reach out to our toll-free number now to connect with a live mesothelioma counselor who can address many of your inquiries and offer you the reassurance you seek.
Family Member Died from Mesothelioma?
If you have a family member who has died from Mesothelioma cancer, you should immediately consult with an experienced Mesothelioma diagnosis lawyer about what compensation may be available to you from asbestos trust funds that total more than $30 billion.
We have seen many families lose their right to file a lawsuit because their Statute of Limitations had expired while they were grieving. We know it is a tough time to grieve the loss of a loved one, but please do not let your Statute of Limitations expire for filing your Mesothelioma lawsuit. In most states, the Statute of Limitations is 1-3 years.
It is VERY IMPORTANT that you file your Mesothelioma claim within your state’s Statute of Limitations.
Taking Legal Action
When confronted with the devastating impact of a mesothelioma diagnosis resulting from asbestos exposure, pursuing legal action becomes a crucial step towards securing the compensation you rightly deserve. Our team is here to assist you in initiating a mesothelioma lawsuit with an experienced mesothelioma attorney, ensuring the protection of your rights and the delivery of justice. Discover today which Asbestos Trust Funds you may be eligible for to receive compensation.
Schedule a FREE Case Consultation
Scheduling a free case consultation is your first step toward seeking justice in mesothelioma cancer lawsuits. We are ready to assess your unique situation and provide the guidance you will need during this challenging time. Take this essential step toward pursuing fair compensation for your mesothelioma-related injuries.
Get Help from an Experienced Mesothelioma Attorney
When dealing with the complexities of mesothelioma cancer lawsuits, getting help from an experienced injury attorney is crucial. For more than 24 years, we have assisted workers, veterans, and families in obtaining the compensation they deserved from negligent asbestos companies. Contact us at 888.640.0914 to secure the support you will need throughout your pursuit of fair and just compensation.
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NARCO Asbestos Trust Fund and Mesothelioma Claims