Owens Corning not only used asbestos in its insulation products, but also its roofing tiles and siding panels. In 2000, Owens Corning filed for Chapter 11 bankruptcy protection. By 2006, the Owens Corning Fibreboard Asbestos Personal Injury Trust was created. The Owens Corning Fibreboard trust is funded with $1.6 billion, making it one of the largest asbestos trusts.Find Out If You Qualify for Compensation
When two major glassworks corporations — Corning Glass and Owens-Illinois — merged in 1935, Owens Corning Fiberglass Corporation became the world’s largest fiberglass manufacturer. The company was the first to manufacture fiberglass insulation, which became the insulation of choice in homes and businesses nationwide. Fiberglass insulation, which is made from fine glass fibers, was popular during the post-World War II housing expansion. Owens Corning was tremendously successful with it first year sales topping $2.5 million. The insulation quickly became known for its pink color and Pink Panther spokestoon. The company was also known for its fiberglass-reinforced plastics that were used in roofs, boats and car bodies, among other places.
When fiberglass insulation became such a hit, Owens Corning incorporated asbestos into the 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 Corp, which made asbestos-containing flooring and industrial insulation. Owens Corning’s website said although the company sold fewer than one percent of all asbestos-containing products, it sold 30 percent of certain widely used products with strong brand recognition.
Homeowners who used the company’s insulation products and people who worked in buildings where the insulation was used may have been exposed to asbestos. The company’s insulation was also widely used on U.S. Navy ships and other cargo ships. As a result, shipyard workers, military veterans and their family members were often exposed to asbestos. Because of the wide reach of the company, there were many occupations that were put at risk for asbestos exposure. The following occupations are considered high risk:
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While Owens-Corning claims they removed asbestos from their Kaylo products early on, their products were found to have caused the death of thousands of people. Early lawsuits against the brand came in 1978 when a class action lawsuit was filed by two shipyard workers who contracted asbestosis when exposed to Owens-Corning products. The lawsuit was filed on behalf of 5,000 other workers who were exposed to the same asbestos-containing products.
Many other cases throughout the years have been filed against Owens-Corning for their use of asbestos. In one case, a Florida jury awarded a man a staggering $31 million in punitive damages and $1.8 in compensatory damages. In another case, three victims in New York were awarded with $18 million in damages.
While Owens-Corning contested many cases, they ended up filing bankruptcy in 2000 after being named in approximately 243,000 Owens Corning products containing asbestos.
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Owens Corning was well known for its groundbreaking insulation products. Most of its products contained asbestos until the early to mid 1970s. The following are some of the more popular asbestos-containing products:
When filing for individual review compensation against this corporation it is important to know what products you came in contact with and which disease level you have. If an individual review is approved, the claim pays an average value, as follows:
Before applying for an asbestos trust, you must prove that you meet the exposure requirements for a claim. There are several criteria you must meet:
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Daniel Wasserberg was a New York metropolitan area “Super Lawyer Rising Star” from 2013 to 2018 (attorneys under age 40), and a Super Lawyer in 2019. In 2017, Daniel was named a “Top 100 Civil Litigator” by the National Trial Lawyers organization. This recognition is rarely awarded to attorneys under the age of 40. Daniel is proud to call himself a Trial Lawyer, and is often asked to speak at gatherings of the nation’s leading attorneys, from both sides of the bar.Learn More