Insulation products that were manufactured in the early to mid-1900s relied heavily on asbestos. Asbestos was a popular insulation material due to its natural resistance to heat and corrosion. A prominent manufacturer of asbestos-containing insulation was API, Inc., whose asbestos products included wire and pipe insulation.
If you or a loved one was exposed to asbestos through an API, Inc. product, you may be eligible for financial compensation through the API, Inc. Asbestos Settlement Trust. An attorney at Bailey & Glasser, LLP can guide you through the asbestos trust claims process. Contact us today for a free case consultation.
How Do Asbestos Products Put People at Risk?
Asbestos is a dangerous naturally occurring mineral that can cause cancer and other health problems in those who are exposed to it through inhalation or ingestion. In 1987, all six types of asbestos were confirmed as carcinogenic (cancer-causing) by the International Agency for Research on Cancer. However, many companies used asbestos to manufacture various consumer products until at least the 1970s.
Any contact with these products, including workers who manufactured them and consumers who purchased them, could place a victim at risk of serious illnesses from asbestos exposure. Illness can occur when tiny asbestos particles and fibers enter the body and become lodged in the internal tissues. Over time, these particles can cause irritation, inflammation and various adverse health effects, including mesothelioma.
Mesothelioma is a terminal cancer of the mesothelial tissues, or the protective membrane that surrounds many of the internal organs. The average life expectancy for someone who is diagnosed with mesothelioma is approximately 12 to 21 months with treatment. Other illnesses connected to asbestos exposure include a chronic lung disease known as asbestosis, pleural effusion and plaques, and lung cancer.
What Asbestos-Containing Products Were Manufactured by API, Inc.?
API, Inc. was founded by Rueben Anderson-Cherne in 1926. The company began as an industrial insulation contractor until expanding into various construction and maintenance contracting services for both industrial and commercial clients. Its main focus was insulation and fire protection, with HVAC and plumbing included in its other areas of work. API, Inc. ceased its production and distribution of asbestos-containing products in 1973.
Asbestos-containing products made by API, Inc. include:
- Wire insulation
- Pipe insulation
- Boiler insulation
- Ductwork
As an insulation contractor, API, Inc. manufactured these products and also supplied materials to other companies. Asbestos was an ingredient in many of these items. By 1982, API, Inc. began facing lawsuits from people who had been exposed to asbestos by their products. These lawsuits would eventually cause API, Inc. to file for bankruptcy in 2005 and create its Asbestos Settlement Trust to compensate victims.
What Is the API, Inc. Asbestos Trust?
As workers and the public became ill from exposure to asbestos, victims began filing lawsuits for their illnesses, cancers and the wrongful deaths of loved ones. In many cases, these lawsuits alleged that the company knew about the potential risks of asbestos exposure but used it in their products anyway. Many companies that were responsible for producing asbestos products filed for bankruptcy due to these lawsuits, including API, Inc. One outcome of these bankruptcy filings was the creation of asbestos trust funds.
An asbestos trust fund is a source of compensation reserved for victims of asbestos exposure after a company goes bankrupt. The API, Inc. Asbestos Settlement Trust was created in 2005 and initially funded with $94 million in assets. As of 2023, the trust contains around $6.6 million. Qualifying individuals can receive a settlement based on a payment percentage that is set by the trust. As of July 1, 2023, this payment percentage was 22 percent.
Who Is Eligible for Compensation From the API, Inc. Asbestos Trust?
Funds in the API, Inc. Asbestos Settlement Trust are available to individuals who have been diagnosed with asbestos-related injuries with proof of API, Inc. product exposure. The majority of claimants are former workers who were exposed to asbestos on the job due to working with API, Inc. insulation products.
Examples of eligible claimants include:
- Boiler operators
- Boilermakers and installers
- Construction workers
- Heating and air (HVAC) technicians
- Household appliance installers
- Industrial workers
- Pipefitters
- Plumbers
When asbestos insulation is manufactured, cut, installed or decomposes due to age, it releases asbestos fibers into the air. This can place anyone in the vicinity of the manufacturing facility or a building that contains API, Inc.’s products at risk of asbestos exposure. Anyone living with or responsible for laundering an at-risk worker’s work clothes could also suffer secondary exposure due to asbestos fibers clinging to the worker’s clothing.
How to File a Claim With the API, Inc. Asbestos Trust
If you are eligible to file a claim with the API, Inc. Asbestos Settlement Trust in pursuit of financial compensation, you or your asbestos attorney must fill out and submit the documents required by the trust. This includes the most current version of the Settlement Trust Claim Form, which must be filed with a processing fee of $500. This fee will be refunded if the claim is allowed by the trust.
Next, your asbestos lawyer will compile and submit the documentation required by the Claim Form, including evidence of exposure to an asbestos product manufactured by API, Inc. and medical records and reports to support an asbestos-related diagnosis. If you are filing a trust fund claim for a deceased loved one, you will also need to submit a copy of the death certificate.
Once the Claim Form has been received, the case will be reviewed by the trust to determine if the claimant qualifies for compensation. If so, he or she will be paid based on the current payment percentage set by the trust. If the claim gets rejected, the claimant has the right to dispute the decision through an appeal.
Contact Bailey & Glasser, LLP for Representation During an API, Inc. Asbestos Trust Claim
If you or someone you love has been diagnosed with mesothelioma or another asbestos-related illness, contact Bailey & Glasser, LLP for a free case consultation. We can help you determine if you are eligible for financial compensation from the API, Inc. Asbestos Settlement Trust. If so, our attorneys can assist you with the claims process and protect your rights.
Our asbestos and lung disease team represents men and women whose lives have changed after being exposed to asbestos. We understand what you are going through and offer legal resources to those who have been wronged. Call (866) 871-7971 today to learn more during a free case review with an attorney.
