Owens Corning (Fibreboard) Asbestos Trust

Founded in 1938 following a merger between Corning Glass Company and Owens Illinois Glass Company, Owens Corning became one of the nation’s leading producers of fiberglass insulation, roofing, and composites, much of which contained asbestos.

Shortly after acquiring the Fibreboard Corporation in 1997, Owens Corning filed for bankruptcy in 2000. The Owens Corning/Fibreboard Asbestos Personal Injury Trust was formed in 2006 and was initially funded with nearly $5 billion.

Like most asbestos trust funds, Owens Corning only pays a percentage of the settlement amount to successful claimants to ensure that the trust can meet the needs of all current and future victims.  

Already reduced once, the current payment percentages of 5.9% (Owens Corning) and 4.4% (Fibreboard) are being reconsidered and will likely change soon.

Owens Corning & Asbestos Exposure

When two significant glassworks corporations, Corning Glass and Owens-Illinois, merged in 1938, Owens Corning Fiberglass Corporation became the world’s largest fiberglass manufacturer.

The company was also the first to manufacture fiberglass insulation, which became the insulation of choice in homes and businesses nationwide.

Fiberglass insulation, made from fine glass fibers, was popular during the post-World War II housing expansion. Owens Corning was tremendously successful, with first-year sales topping $2.5 million.

Its insulation quickly became known for its pink color and Pink Panther “spokestoon.” The company was also known for its fiberglass-reinforced plastics, which were used in roofs, boats, and car bodies, among other places.

Owens Corning incorporated asbestos into its materials because of its fire and heat resistance and insulating properties. Asbestos was cheap and easy to get, making it the perfect material for the burgeoning company.

In 1997, the company acquired Fibreboard Corporation, which made asbestos-containing flooring and industrial insulation. 

In 2000, due to the overwhelming number of asbestos personal injury lawsuits the company was facing, as well as significant debt taken on to avoid a hostile takeover, Owens Corning filed for Chapter 11 bankruptcy. 

Owens Corning Asbestos Lawsuits

While Owens Corning claims to have removed asbestos from its products early on, these products caused the death of thousands of people.

Early lawsuits against the brand began in 1978 when two shipyard workers who had contracted asbestosis from exposure to Owens Corning products filed a class action lawsuit on behalf of 5,000 other workers exposed to the same asbestos-containing products.

Many other cases have been filed against Owens Corning for its use of asbestos:

• In one case, a Florida jury awarded $31 million in punitive damages and $1.8 in compensatory damages to a man suffering from mesothelioma.
• In another case, the court awarded three victims in New York $18 million in damages. 
• A San Francisco jury awarded 10 defendants $3 million in 1998.
• The Supreme Court of Iowa ruled in favor of the family of another victim, Robert Spaur, granting them $1.4 million in compensatory damages and $1.5 million in punitive damages.

While Owens Corning contested many early asbestos lawsuits, it sought the protection granted by Chapter 11 bankruptcy in 2000 when the number of lawsuits it was named in rose to approximately 243,000.

Associated Companies 

Originally two separate companies, Corning Glass Company and Owens Illinois Glass Company began a joint research venture in 1935, eventually leading to a merger in 1938.

The newly formed Owens Corning Fiberglass Corporation quickly became one of the nation’s foremost suppliers of asbestos-contaminated construction materials.

In 1997, Owens Corning purchased the Fibreboard Corporation, which specialized in industrial insulation and flooring containing asbestos.

Owens Corning’s most significant recent acquisition was Pittsburgh Corning, a cellular glass company with a history of asbestos use, which it acquired in 2017 for $560 million in cash.

A Fortune 500 company for more than 60 years, Owens Corning employs roughly 16,000 people in 26 countries.  

Companies Associated With Owens Corning:

• Aerospace and Strategic Metals Group
• Armstrong Rubber Co.
• Fibreboard Corporation
• Frye Roofing
• Masonite International
• OCV Reinforcements
• Pittsburgh Corning
• UC Industries

High-Risk Jobs Associated With Owens Corning

Owens Corning products were installed in residential, commercial, and military facilities nationwide. Because Owens Corning products were so widely used, many people across many professions were exposed to asbestos as a direct result of the company’s carelessness.

Jobs at Highest Risk for Asbestos Exposure

Other Owens Corning occupations that faced asbestos exposure include:

• Construction workers
• Contractors
• Boilermakers
• Boiler tenders
• Demolition crews
• Factory workers
• Millwrights
• Pipe coverers 
• Pipefitters
• Plumbers

As of April 2024, there are currently 30,252 approved locations where asbestos-containing products made by Owens Corning and Fibreboard were used.

Those interested in learning more or looking for a specific location can access the public records below:

• Owens Corning approved location list
• Fibreboard approved location list

Asbestos Products Used at Owens Corning

Owens Corning continued to manufacture and sell asbestos-contaminated products until the mid-1970s. It marketed these products as safe and nontoxic despite internal and external research that said otherwise.

Kaylo 

Owens Corning made this famous brand of insulation from 1953 to 1972. The Kaylo product line was broad and included thick sheets called Kaylo Block and wrap-around insulation called Kaylo pipe insulation. 

Kaylo products, including insulation sheets, were also widely used on military vessels. Owens Corning discontinued its Kaylo brand in 1972.

The most common Kaylo products included:

• Kaylo Heat Insulating Block
• Kaylo Pipe Insulation
• Kaylo Duct Insulation
• Kaylo Equipment Insulation
• Kaylo Cold Storage Systems
• Kaylo Insulating Roof Tile

One Cote Insulating Cement

This asbestos-containing cement powder was sold in large bags to be reconstituted with water. When the powder was released from the bag, workers breathed in asbestos fibers.

Owens Corning Fibreboard Mastic

Mastic adhesives, thick cement-type products, are widely used in industrial settings to repair or secure flooring and tiles. Asbestos was added to mastic adhesives to increase their tensile strength and make them chemical- and heat-resistant.

The Formation of the Owens Corning/Fibreboard Asbestos Personal Injury Trust

Owens Corning began facing lawsuits for asbestos exposure in the 70s. By 2000, plaintiffs had named the company in nearly a quarter of a million asbestos personal injury lawsuits. Owens Corning filed for Chapter 11 bankruptcy on October 5th of that year. 

The trusts were formed in 2006 as one of the conditions set by the court for emerging from bankruptcy and were initially funded with over $5 billion. 

Owens Corning Asbestos Settlement and Payment Percentage in 2024

Owens Corning operates two trusts: one for those exposed to asbestos through Owens Corning products and the other for exposure linked to Fibreboard products.

The trusts have different payment percentages:

• Owens Corning Asbestos Personal Injury Trust: 5.9%
• Fibreboard Asbestos Personal Injury Trust: 4.4%

Claimants must choose whether to submit their claims for expedited review (ER) or individual review (IR). If approved, the payment percentage would be applied to the settlement value to calculate the final compensation amount. 

The values below represent the average settlement amount for individual review claims before the application of the payment percentage.  

Owens Corning Compensation Amounts

Disease	Compensation
Mesothelioma	$270,000
Lung Cancer	$50,000
Other Cancer	$25,000
Severe Asbestosis	$50,000

Expert Insight From Daniel Wasserberg, Mesothelioma Attorney

A successful claimant awarded the IR average of $270,000 for mesothelioma by the Owens Corning trust would receive $15,930 once the 5.9% payment percentage was applied.

A similarly successful claimant to the Fibreboard trust awarded the average IR settlement of $180,000 would receive $7,920 after applying the 4.4% payment percentage. Many claimants are eligible to receive funds from more than one trust.

Understanding the Different Review Processes

Claimants applying to the Owens Corning Fibreboard trusts can choose from two review processes: expedited or individual. Each process has benefits and drawbacks. Selecting the proper review process is crucial for claimants seeking a successful resolution.  

Expedited Review

The expedited review process is often the fastest and most straightforward way to receive compensation from a trust.

Through expedited review, any claimant who meets the eligibility requirements and provides the required documentation may be able to obtain a guaranteed amount of money, called the scheduled value, for their specific illness.

Expedited review may be a good option for claimants who need to receive compensation quickly to meet pressing needs like medical bills or other expenses incurred by their diagnosis.

Individual Review

Individual review claims are tailored to the individual circumstances of each case. Each claim filed for individual review undergoes a detailed review and receives an individual evaluation to determine the degree of compensation. 

The IR documentation requirements are no less strict than the ER requirements. When filing for individual review compensation against this corporation, it’s important to know what products you came in contact with and which disease level you have.

While successful IR claims often yield a higher payment than ER claims, receiving less than the scheduled value is possible. Individual review claims are processed after expedited review claims received on the same day. 

The uncertainty and longer waiting period, along with the potentially higher payout, make individual reviews a good option for claimants who are not in immediate financial need and want to maximize their potential compensation.

Eligibility Requirements for the Owens Corning Asbestos Trust

There are two primary types of eligibility requirements for claimants seeking compensation: medical and exposure. Both categories require thorough documentation.

Medical Requirements

• A diagnosis of one of the scheduled illnesses covered by the trust made either by a physician or by a pathologist if the patient is deceased.
• Evidence of the illness in the form of imaging (like an X-ray or CAT scan), test results, or a pathology report.
• A causal statement from a medical doctor linking the illness to asbestos exposure.
• A 10-year latency.

Exposure Requirements 

• At least six months of Owens Corning Fibreboard exposure before December 31st, 1982.
• Significant occupational exposure to asbestos.

Even if claimants meet all of these other eligibility requirements, a claim cannot move forward if the statute of limitations has passed. It’s essential to move quickly following a diagnosis.

Get Expert Support for Your Owens Corning Asbestos Claim

Adding a legal professional to your team may make the claims process faster, easier, and less stressful during a time when you deserve to focus solely on your health and well-being.  

Legal experts can help gather documentation, file paperwork, and monitor filing deadlines. A good legal team may be able to help you navigate the claims process in a way that seeks maximum compensation to cover medical treatments and other hardships caused by illness

To learn about your options, contact us today.