Bondex International is one of the many companies that injured American workers by using asbestos. Bondex is a subsidiary of RPM International, Inc. The company used asbestos in its products until 1981, long after asbestos was proven deadly. Most Bondex products were used for construction. Thus, Bondex not only injured employees who manufactured these products, but thousands of construction workers across the nation. Moreover, because asbestos is an airborne hazard, anyone working at a job site was at risk.
As early as the 1920s, physicians recognized that exposure to asbestos caused severe sickness when asbestosis was identified by British medical journals.
At the same time, insurance companies in the United States and Canada stopped selling life insurance to asbestos workers. Moreover, safer substitutes for most asbestos uses were known as early as the 1930s. Nevertheless, Bondex chose to protect its substantial profit margins rather than discontinue use of the mineral.
Additionally, the asbestos fibers remain in a person’s lungs for years and symptoms may not develop for decades. Accordingly, Bondex’s victims might live for decades without knowing of the deadly injury they sustained.
Bondex International has been involved in many asbestos-related lawsuits over the past 20 years. The majority of these cases arose in Florida, Illinois, Ohio, Mississippi and Texas.
Because of these lawsuits, the company has depleted most of its insurance coverage. The company reviewed its liability policies and decided to sue its insurance companies to challenge the ruling that policies have been exhausted. Thus, it is likely that more money will be available to cover the injuries Bondex caused to thousands of Americans.
Because Bondex was unable to estimate the liability it owed its victims, the company established a reserve of $140 million to cover known claims, as well as an additional $51.2 million for future claims. If you or a loved one has been injured by Bondex, it is important that you contact The Gori Law Firm immediately for more information on your rights.