Owens Corning Asbestos Trust

What Is the Owens Corning Asbestos Trust?

In 1953, Owens Corning began manufacturing and selling asbestos-containing insulation. Over the years, the company continued to manufacture and sell products with asbestos until the dangers became publicly known in the 1980s.

After being hit with about 243,000 asbestos lawsuits, Owens Corning declared bankruptcy in an attempt to limit their legal liabilities but continue business operations. As part of the process, the company created a mesothelioma trust fund to resolve current and future asbestos-related claims.

About the Owens Corning Asbestos Personal Injury Trust

• In 2000, Owens Corning filed for bankruptcy, and in 2006, the Owens Corning Fibreboard Asbestos Personal Injury Trust was formed.
• The trust includes an Owens Corning Subfund and a Fibreboard Subfund, as the company acquired Fibreboard Corporation in 1997.
• Boiler operators, bricklayers, carpenters, electricians, insulators, U.S. Navy veterans, and laborers across dozens of industries may have been exposed to asbestos through the company's products.
• Over 30,000 workplaces reportedly used Owens Corning and Fibreboard asbestos products, including power stations, shipyards, paper mills, manufacturing facilities, and oil companies.
• Compensation is available for patients and families impacted by mesothelioma, lung cancer, and other asbestos-related diseases.
• The Owens Corning Fibreboard Asbestos Personal Injury Trust was funded with $5 Billion, and you may be entitled to some of this money.

Mesothelioma trust fund payouts award around $300,000 to $400,000 on average from multiple trusts, with additional legal claims bringing the total to over $1 Million. This money can provide peace of mind for families impacted by Owens Corning asbestos exposure.

At Sokolove Law, many of our clients start receiving compensation from asbestos claims in as few as 90 days of contacting us. We’ll fight hard to secure the compensation you deserve.

Owens Corning Asbestos Products

In 1938, Owens Corning Fiberglas Corporation was founded and soon became known for inventing glass fiber and glass fiber insulation. The Ohio-based company was formed from Corning Glass Company and Owens-Illinois Glass Company.

In 1953, Owens Corning began distributing Kaylo insulation products, which put many workers and their families in the line of danger. Sold until 1973, Kaylo pipe covering contained chrysotile and amosite asbestos fibers, allowing it to withstand temperatures of 1200°F or more.

Owens Corning asbestos products included:

• Adhesives
• Ceiling tiles
• Cement
• Insulation
• Kaylo and Kaylo 20 pipe covering
• Kaylo and Kaylo 20 heat-insulating blocks

Beginning in 1939, Owen Corning's Fireproof Fiberglas^™ was used to insulate all U.S. Navy ships. Asbestos-containing insulation was used to ensure that naval vessels resisted high temperatures and corrosion, but it also put military personnel in danger of getting sick later in life.

In 1997, Owens Corning acquired the Fibreboard Corporation, which included responsibility for asbestos lawsuits tied to Fibreboard products. For decades, Fibreboard was a major manufacturer of asbestos-laden insulation and wood products.

History of Owens Corning Asbestos Lawsuit Settlements & Verdicts

Owens Corning sold and distributed asbestos-containing products for decades, leading to widespread litigation. By the time the company filed for bankruptcy, they were facing 188,000 asbestos claims, of which about 60,000 had been resolved through asbestos settlements that had yet to be paid.

While the company restructured, 243,000 claims amassed. Evidence presented in court showed that the company knew of the hazards of asbestos but failed to warn employees — and even engaged in a cover-up to hide this information.

Despite a 1968 internal memo linking asbestos to asbestosis, lung cancer, and mesothelioma, Owens Corning remained steadfast that "all medical research to date indicates no hazard to health."

While Owens Corning notified some employees of the health hazards associated with asbestos in 1971, others weren't informed until 1978, according to court documents. As a result, Owens Corning has been ordered to pay millions of dollars in asbestos settlements and verdicts.

$32.8 Million Owens Corning Asbestos Verdict for Mesothelioma Linked to Kaylo

A Florida court awarded $32.8 Million to a man who developed mesothelioma after working with Owens Corning's Kaylo products on jobsites across the country in the 1960s and 1970s.

The jury was presented with company documents that included remarks by then-CEO Glen Hiner on the asbestos litigation. Hiner had stated that the "vast majority of new claimants are not sick" and that the company was focused on the future and not on "shedding tears about the past."

The mesothelioma verdict included $1.8 Million for the man's actual losses and $31 Million in punitive damages to punish Owens Corning for their bad behavior.

$6.25 Million Owens Corning Mesothelioma Verdict

Owens Corning was sued for their use of asbestos as a fireproofing agent, which allegedly caused a man to develop pleural mesothelioma and later pass away.

The mesothelioma victim claimed that he had been exposed to the company's asbestos-containing products from 1966 until 1972. He died in 1993.

Ultimately, Owens Corning was ordered to pay $6.25 Million to the man's family. At the time, the award was the largest in Florida for a case involving mesothelioma.

$2.38 Million Owens Corning Class Action Lawsuit Settlement

Owens Corning Fiberglas Corporation agreed to a $2.38 Million asbestos class action lawsuit settlement to resolve about 140 lawsuits filed by shipyard workers in Newport News, Virginia.

Victims were to receive an average payout of $17,000 per person, according to The Washington Post.

All but about 10 of the cases reportedly involved workers from Newport News Shipbuilding and Dry Dock Company. In addition to Owens-Corning, 9 other asbestos-related companies were named in the lawsuits.

$509,000 Owens Corning Asbestos Verdict for Shipbuilder

Owens Corning was ordered by a Virginia court to pay over $509,000 to the family of a man who passed away from mesothelioma after working with the company's Kaylo products.

For 6 months in 1964, the mesothelioma victim worked as a pipe coverer for Newport News Shipbuilding and Drydock Company on the aircraft carrier America. He allegedly handled asbestos-containing insulation products daily, including pipes and valves in the reactor, engine, and boiler rooms.

For the next 23 years, the man worked as a pipefitter for the shipbuilder, installing and removing pipes on several submarines. While the asbestos lawsuit named other defendants, Owens Corning was the only one that refused to settle.

$2.9 Million Owens Corning Asbestos Verdict for Power Plant Worker

An Iowa court ordered Owens Corning to pay $2.9 Million to the family of a man who worked at the Iowa Power Plant in Des Moines from about 1957 to 1985. He passed away from mesothelioma at age 62.

The family sued 24 asbestos-related companies and almost all settled. Those who refused to settle included Pittsburgh Corning, Owens-Illinois, and Owens Corning.

While working at the power plant, the man had been exposed to asbestos through products like Kaylo, which were used to insulate the plant's boilers, turbines, and pipes.

$5.5 Million Owens Corning Asbestos Verdict

Four families sued Owens Corning Fiberglas for wrongful death and personal injuries stemming from the company's asbestos-containing Kaylo insulation products.

The Owens Corning asbestos verdict included $1.8 Million for the families' actual losses and $3.7 Million in punitive damages. The company had appealed on the grounds that the awards were excessive, but was unsuccessful.

While the court proceedings took place in the Texas court system, the case was tried under the laws of Alabama, where the exposures occurred.

Who Can File an Owens Corning Fibreboard Asbestos Trust Claim?

The Owens Corning Fibreboard asbestos trust issues payouts for claims filed by victims diagnosed with asbestos-related diseases linked to Kaylo, Fibreboard, and other asbestos-containing products or their families.

You may be able to file an Owens Corning asbestos trust fund claim if:

• You were diagnosed with mesothelioma, lung cancer, or a related disease
• A family member was diagnosed with or died due to mesothelioma or another asbestos-related illness
• You represent the victim's estate

At Sokolove Law, our asbestos attorneys provide free case reviews, so families can find out if they may be eligible for compensation from the Owens Corning asbestos personal injury trust.

We can also determine whether you qualify for additional compensation sources, which could increase your total potential payout and remove the financial burden of treatment or funeral expenses.

Jobs at Risk for Owens Corning Asbestos Exposure

Over 1,800 jobs across dozens of industries put workers nationwide at risk of Owens Corning asbestos exposure. Those who worked in facilities where Kaylo insulation was manufactured were among those at the highest risk.

High-risk Owens Corning asbestos exposure jobs included:

• Boiler workers
• Brick layers
• Carpenters
• Construction workers
• Electricians and electrical engineers
• Firefighters
• Forklift operators
• Furnace workers
• Insulators
• Iron workers
• Laborers
• Laggers
• Maintenance mechanics
• Military veterans
• Millwrights
• Molders
• Naval engineers
• Pipefitters and plumbers
• Sheetmetal workers
• Shipyard workers
• Steamfitters
• Welders
• Many other occupations

Working with asbestos-based insulation products like Kaylo created areas of asbestos dust that looked like "a Texas dust storm," according to evidence presented in an Owens Corning asbestos lawsuit.

Anyone exposed to asbestos fibers is at risk of developing mesothelioma and other serious illnesses 20-50 years later. This includes secondhand exposure victims, who may have come in contact with Owens Corning asbestos fibers that were unknowingly carried home by workers.

How to File an Owens Corning Fibreboard Asbestos Personal Injury Trust Claim

The Owens Corning asbestos trust has procedures for how claims are assessed, processed, and paid. While the process may seem complicated, the mesothelioma lawyers at Sokolove Law can handle all the legal work, making the process as easy as possible for families.

When filing an Owens Corning asbestos trust fund claim, we can help:

1. Gather documentation: Our mesothelioma attorneys can collect medical records and asbestos exposure evidence linked to Owens Corning, Fibreboard, and products like Kaylo.
2. File your Owens Corning asbestos claim: We will prepare and file the paperwork for your claim with the Owens Corning Fibreboard Asbestos Personal Injury Trust, along with other trusts that you may qualify for.
3. Recommend the review type: The trust's administrators will review your claim using either an Expedited Review or an Individual Review. Your legal team can explain the option that may result in the best outcome for your family.
4. Seek a payout: Once your claim is approved and liquidated, the trust will issue a payout based on the value assigned to your case and other factors.
5. Pursue additional compensation: Many mesothelioma victims were exposed to multiple asbestos-containing products. We can help identify all the companies that played a role in your exposure and seek compensation from each.

Asbestos trust fund claims have deadlines set by laws called statutes of limitations. The deadline typically starts when a patient is diagnosed with an asbestos-related illness or dies. Once this window closes, you may be unable to file a claim for compensation.

Owens Corning Fiberglas Asbestos Trust Payouts

Over 60 asbestos-related companies, including Owens Corning Fiberglas Corporation, established trusts to compensate current and future victims. These funds offer different payouts depending on factors like a patient's disease, exposure, and the type of review used.

The Owens Corning Fibreboard Asbestos Personal Injury Trust includes an Owens Corning Subfund and a Fibreboard Subfund. Victims may qualify for payouts from both based on the products that contributed to their diagnosis.

To ensure that enough money remains for future claim filers, a percentage system is used to calculate payouts. These percentage amounts may be reviewed by the Owens Corning asbestos trust on an annual basis as claims are processed and paid.

Owens Corning Fibreboard Asbestos Personal Injury Trust payouts include:

At this time, the Owens Corning Subfund asbestos trust payment percentage is 4.7% of the scheduled value for both Expedited and Individual Review, while the Fibreboard Subfund payment percentage is 3.7%.

Along with payments from additional asbestos claims, many families end up with over $1 Million total in financial assistance on average. We can help families get the most money possible by pursuing compensation from every possible source.

Pursue an Owens Corning Asbestos Settlement

Companies like Owens Corning manufactured and sold asbestos-containing products without adequately warning of the risks. As a result, thousands of workers got sick and were left to pick up the pieces after a life-altering diagnosis.

As a national mesothelioma law firm, Sokolove Law can stand up to powerful companies like Owens Corning and even the playing field for everyday people. We have resources to link asbestos exposure to products like Kaylo and build strong claims to secure as much money as possible.

Over the past 45+ years, we've secured more than $5.3 Billion total for patients and families affected by mesothelioma.

We can help families in all 50 states and never charge any upfront costs or hourly fees. By handling all the legal work, you can focus on your health and spending time with loved ones.

Call (800) 647-3434 right now or fill out our form to see if you may be eligible for a payout from the Owens Corning Fibreboard Asbestos Personal Injury Trust.

Owens Corning Asbestos Trust FAQs