Babcock & Wilcox: Asbestos Products, Trust & Compensation

Babcock & Wilcox was once a leading manufacturer of boilers and industrial equipment that were often assembled with asbestos products. Over time, workers and their families developed mesothelioma and other asbestos-related diseases from exposure to these products.

The Babcock & Wilcox Company Asbestos PI Trust was created after the company filed for bankruptcy protection. Early, Lucarelli, Sweeney & Meisenkothen (ELSM) has more than 40 years of experience filing mesothelioma claims to help victims and families secure compensation from these types of trusts.

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B&W Asbestos Trust At a Glance

• The Babcock & Wilcox Asbestos PI Trust has paid approximately $1.94 billion to asbestos victims and families in settlements, with funds remaining for eligible claimants.
• To file an asbestos claim, you must have a diagnosis of mesothelioma or other asbestos illness and provide proof that Babcock & Wilcox is responsible for the exposure.
• Babcock & Wilcox asbestos exposure may have occurred while working with or around boilers on the job or through secondary exposure.
• Experienced asbestos attorneys at ELSM Law will review your case to determine your eligibility and file a Babcock & Wilcox claim on your behalf.

Understanding the Babcock & Wilcox Asbestos Trust Fund

A mesothelioma trust fund is money set aside by companies that filed for bankruptcy. These funds exist to pay compensation to people diagnosed with mesothelioma and other asbestos-related diseases, making it possible for victims to receive financial help even after a company has shut down. The Babcock & Wilcox Company established its trust fund in 2006 after filing for bankruptcy in 2000. The trust has paid over 403,000 claims since it was established.

In 2024, the Babcock & Wilcox Company Asbestos PI Trust:

• Paid over 19,000 claims.
• Received over 27,700 unliquidated personal injury claims.
• Paid approximately $28.5 million to asbestos victims in settlements.
• Reported approximately $291.7 million in total assets.

Babcock & Wilcox Company Asbestos PI Trust Payment Percentage

The amount you can recover from an asbestos trust fund depends on a set percentage of the full claim value, called the “scheduled value.” The current payment percentage is 4.7% for the Babcock & Wilcox Company Asbestos PI Trust. At a payment percentage of 4.7%, the current payout on a Babcock & Wilcox mesothelioma claim filed under the expedited review process is $4,230.

Determining Review Process for Babcock & Wilcox Asbestos Company PI Trust Claims

As with most asbestos trust funds, you can pursue one of two paths to file a claim with the Babcock & Wilcox Asbestos Trust:

• Expedited review: This option uses standard payout values to provide a quicker decision. It works best when your claim meets all of the guidelines in the Babcock & Wilcox Asbestos Trust Distribution Procedures.
• Individual review: This process takes longer but may result in higher compensation. It’s required for lung cancer and secondary exposure cases.

A skilled asbestos attorney can review your work history, medical records, and personal details to choose the best option for your claim. While the process may take a few months depending on the complexity of the claim, once approved, payments are usually issued within weeks.

Babcock & Wilcox's Role in Asbestos Exposure

Babcock & Wilcox relied on products containing asbestos to increase heat resistance and durability in various types of power generation equipment. The company continued to use asbestos after the health risks became known.

Key events in Babcock & Wilcox’s history include:

• 1867: Babcock & Wilcox is founded as a boiler manufacturer.
• Early 1900s: The company manufactures the boilers used for New York City’s first subway and for a widely known fleet of U.S. Navy battleships.
• Early 1970s: Babcock & Wilcox phases out asbestos use, but not before harming thousands of employees.
• 1978: An internal memo acknowledges the company is exposing workers to high levels of asbestos that violate Occupational Safety and Health Administration (OSHA) standards.
• 1980s: Asbestos lawsuits against Babcock & Wilcox begin.
• 2000: The company files for bankruptcy under the weight of the lawsuits.
• 2006: The Babcock & Wilcox Asbestos Trust Fund is established to compensate victims.

Babcock & Wilcox Asbestos Products

Babcock & Wilcox became well known for boilers and industrial equipment that relied on asbestos. These products were used in power plants, shipyards, and factories, contributing to asbestos exposure in workers who built, repaired, or maintained them.

Common Babcock & Wilcox asbestos products included:

• Boilers: Asbestos in boilers was common in power plants, factories, and naval ships. Asbestos was typically used in the insulation around the boiler.
• Furnaces: Babcock & Wilcox also used asbestos insulation in its furnaces.
• Pulverizers: Used to crush coal in power stations, pulverizers were often built with asbestos parts.
• Gauges and gaskets: These asbestos parts were found in boilers, pumps, and valves.
• Insulating firebricks: These blocks of asbestos insulation lined boilers and furnaces.
• Heat seals: Seals like rope packing were used around high-temperature equipment to prevent leaks.

While this is not a complete list, it highlights some of the main products that exposed workers to asbestos.

Who Was Most At-Risk for Asbestos Exposure?

Exposure to Babcock & Wilcox asbestos products affected not only the company’s employees, but also the many tradespeople and contractors who worked with its equipment. Decades later, Babcock & Wilcox mesothelioma patients continue to be diagnosed—and have the right to claim compensation from the trust.

Occupational Exposure

People exposed daily at their jobs carry the highest risk of mesothelioma because of the long-term contact with asbestos fibers.

Some of the jobs most at risk of asbestos exposure include:

Secondary Asbestos Exposure

Those who worked directly with Babcock & Wilcox products could also unknowingly bring asbestos fibers home on their clothing and shoes, in their hair, and even in their vehicles and on their tools. This caused secondary asbestos exposure for their spouses, children, and other household members, who could later develop mesothelioma.

If you think your diagnosis is related to secondary exposure, you may also qualify for compensation through the Babcock & Wilcox Asbestos Trust.

Babcock & Wilcox Asbestos Lawsuits

Before filing for bankruptcy, Babcock & Wilcox faced thousands of lawsuits from workers, unions, and families who claimed the company’s boilers and insulation caused asbestos-related illnesses. These cases stretched over decades:

• 1982: The first asbestos lawsuit is filed against Babcock & Wilcox.
• 1991: A New York district court consolidates more than 600 cases against various companies, including Babcock & Wilcox.
• 1996: Cleo Elmore, a U.S. Navy veteran, is awarded $2.8 million in a landmark lawsuit filed against Babcock & Wilcox and many other companies.
• 1999: Babcock & Wilcox has settled hundreds of thousands of claims by this time, leading the company to claim bankruptcy and set up the Babcock & Wilcox Asbestos Trust.

Combined with the memo from 1978, these lawsuits show a long history of negligence on the part of Babcock & Wilcox.

Understanding Your Legal Right to Compensation

If you have a mesothelioma diagnosis that may be tied to Babcock & Wilcox, you could qualify for compensation through the trust. In addition, there may be other companies that share responsibility, as asbestos exposure often comes from multiple sources.

An experienced attorney can help you:

• Review your medical records to confirm eligibility.
• Gather your work history to document exposure.
• Link your job sites or products directly to Babcock & Wilcox.
• File your claim with the trust using complete and accurate forms.
• Track your claim’s progress and respond to trust administrators.
• Pursue lawsuits against other asbestos companies that may also share responsibility.
• File mesothelioma claims after death if your loved one is already gone.

At ELSM, our team focuses entirely on mesothelioma cases, giving us the experience and resources to build a strong claim for you and your family. Contact us today for a free case evaluation—we’re ready to fight for the justice and financial support you deserve.

Frequently Asked Questions

What types of jobs were most at risk of Babcock & Wilcox asbestos exposure?

Jobs in boiler operation, power plants, shipyards, construction, and plumbing trades carried the highest risk because these workers handled asbestos materials frequently. Many of these workers later developed mesothelioma after decades of exposure on the job.

Can I pursue a lawsuit in addition to filing with the Babcock & Wilcox Asbestos Trust?

If multiple companies are responsible for your asbestos exposure, you may be able to file a mesothelioma lawsuit against those companies. Many patients file a trust fund claim and also pursue lawsuits against other companies responsible. Filing both can increase your total compensation and hold more than one company accountable.

How long does it take to receive compensation from the Babcock & Wilcox Asbestos Trust?

Most claims take a few months to process, though complex cases may take longer if more documentation is required. Once approved, you can usually expect payment within several weeks.

How many claims have been paid by the Babcock & Wilcox Asbestos Trust?

The trust has paid more than 403,000 claims since it was created. These numbers show just how many workers and families have been impacted by their asbestos use.

Can I file a trust claim if I worked with Babcock & Wilcox products decades ago?

Yes. Mesothelioma takes decades to develop, and the trust accepts claims as long as you file within the statute of limitations after your diagnosis. Even if your exposure happened many years ago, you may still qualify for compensation.