FACTBOX-Key provisions of US Senate asbestos bill

Newswire

WASHINGTON, May 26 (Reuters) - Key provisions of a U.S. Senate bill to take asbestos injury claims out of the courts and pay them from a $140 billion privately-financed fund. FUNDING - Companies will pay $90 billion over 30 years based on prior asbestos expenditures and revenues. Insurers will pay $46 billion over 27 years. The bill assumes $4 billion will come from existing asbestos bankruptcy trusts. MANAGEMENT - The Asbestos Injury Claims Resolution Fund will be managed by the Office ...

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