Though such verdicts are sometimes set aside on other grounds, lawsuits in Illinois and elsewhere involving exposure to asbestos are sometimes coming back with jury verdicts of more than six figures. A Mississippi judge set aside such a verdict against Union Carbide that could have cost the company $322 million.

The verdict would likely have been reduced in any case due to restrictions in Mississippi on punitive damages. But though this particular jury verdict was vacated because a judge on the bench had a possible conflict of interest concerning the case, another jury may still come back with a substantial verdict.

Keep in mind what the plaintiff has alleged in this case. The plaintiff claims to have contracted asbestosis due to exposure to asbestos fibers while mixing drilling mud on oil rigs in the Gulf of Mexico. He further alleges that Union Carbide and Chevron Phillips knew of the possibility of such exposure without warning the workers.

Asbestosis is a malady that can come about due to longtime exposure to asbestos and may put sufferers at risk for lung cancer and mesothelioma. The symptoms of asbestosis can be debilitating and painful. Unfortunately, there is no curative treatment for asbestosis and the scarring that characterizes the disease is irreversible.

We've long known of the dangers that accompany asbestos exposure. There are and will continue to be debates as to how much exposure to asbestos is required for asbestosis, mesothelioma or lung cancer to occur. However, at least judging from the consequences of long term exposure, it seems best for industries to err on the safe side. That such businesses have not taken always taken such safety concerns seriously is why verdicts as the one above will continue to be forthcoming.

Source: Bloomberg Businessweek, "Union Carbide Asbestos Verdict Erased by Mississippi Judge," by Laurence Viele Davidson, Jan. 4, 2012