Berkshire Hathaway subsidiaries deny, delay asbestos, hazard claims, suits, insiders allege
Posted on October 6, 2013
Tonight, October 6th, a Scripps National Investigation, Risky Business, will air on televisions and in newspapers nationwide. The story dives into allegations that Berkshire Hathway, an American multinational conglomerate holding company that’s part of Warren Buffett’s empire, has intentionally delayed or denied insurance claims for victims of asbestos exposure.
In the investigation, “Scripps interviewed over 20 sources – some confidential — reviewed dozens of lawsuits and spoke with former insiders, who all allege that Berkshire-owned companies that handle its asbestos and pollution policies wrongfully delay or deny compensation to cancer victims and others to boost Berkshire’s profits.” The article continues, “In multiple cases, courts and arbitrators have ruled that the Berkshire subsidiaries’ tactics have been in ‘bad faith’ or intentional.”
Unfortunately, the tactics of the Berkshire subsidiaries aren’t uncommon – many asbestos defendants often drag out court proceedings and attempt to find any way possible to avoid paying insurance claim money. Unquestionably, delayed justice IS injustice. As asbestos exposure continues and corporations continue to delay or deny compensation to victims in pursuit of profit, the need for legislation that protects the health of the public has never been more evident. The facts are irrefutable, asbestos is a known human carcinogen, yet the United States continues to import asbestos to meet manufacturing needs.
Current legislation, like the Furthering Asbestos Claim Transparency (FACT) Act, continues to make it even more difficult for asbestos victims to receive a “day in court” and receive the compensation and the justice they deserve. Congress must intervene and enact legislation that both protects asbestos victims from the unjust behavior of corporations like Berkshire Hathway and, ultimately, prevents future asbestos exposures from occurring and causing asbestos-related disease.
Set your TV for tonight on NBC after the game to watch this investigative report.
In unity,
Linda Reinstein