Fairness in Asbestos Compensation Act of 1998

TABLE OF CONTENTS:

Title I: Asbestos Resolution Corporation

Title II: Medical Eligibility Determinations

Title III: Alternative Dispute Resolution

Title IV: Civil Actions

Title V: Rules Applicable to Arbitrations and Civil Actions

Title VI: Funding

Title VII: Applicability; Pending Civil Action

Title VIII: Miscellaneous Provisions

Fairness in Asbestos Compensation Act of 1998 - Title I: Asbestos Resolution Corporation - Establishes the Asbestos Resolution Corporation which shall: (1) have exclusive authority to adopt rules for cost recovery, physician qualifications, alternative dispute resolution, exceptional medical cases, and disease eligibility; and (2) appoint a Medical Advisory Board.

Title II: Medical Eligibility Determinations - Sets forth claimant medical eligibility determination criteria for: (1) nonmalignant conditions; (2) mesothelioma; (3) lung cancer; and (4) other cancer.

(Sec. 205) Sets forth procedures for Corporation determination of a claimant's certificate of medical eligibility.

(Sec. 206) Directs the Corporation to establish one or more exceptional medical claims panels. Sets forth application and acceptance provisions.

(Sec. 207) Provides for: (1) confidentiality; and (2) U.S. district court review of Corporation determinations of eligibility.

Title III: Alternative Dispute Resolution - Directs the Board to establish procedural rules for an alternative dispute resolution process.

Sets forth provisions regarding: (1) motions officers; (2) respondent notification; (3) additional respondents; (4) grace period; (5) mediation and arbitration; and (6) subpoena powers.

Title IV: Civil Actions - Prohibits: (1) a civil asbestos action unless the plaintiff has obtained a certificate of medical eligibility and release from mediation; and (2) a class action or other collective action without the consent of each defendant.

(Sec. 404) Requires a penalty for a final offer made by a respondent in mediation if such offer is below a certain amount assigned by the jury or fact-finder.

Title V: Rules Applicable to Arbitrations and Civil Actions - Sets forth arbitration and civil action rules with respect to: (1) relief; (2) timeliness defenses; (3) attorney's fees; and (4) nonpreclusion of nonmalignant claims upon subsequent malignancy claims.

Title VI: Funding - Directs the Corporation to estimate its annual medical review and administrative and overhead costs and allocate proportionate cost shares among the previous year's respondents. Provides monetary penalties for noncooperation with the Corporation.

(Sec. 602) Provides for mediation and arbitration costs to be charged on a per capita basis to participating respondents.

(Sec. 603) Directs the Corporation to establish procedures for informal resolution of cost assessment disputes. Provides for U.S. district court review of cost assessment disputes.

Title VII: Applicability; Pending Civil Actions - Makes this Act applicable to any civil asbestos action that has not resulted in a final, nonappealable judgment, with specified conditions applicable to pending civil actions.

Title VIII: Miscellaneous Provisions - Defines specified terms.

(Sec. 804) Makes this Act inapplicable to existing asbestos trusts, with an elective trust exception.