The TUC yesterday welcomed the news that a trade union campaign to secure full compensation for asbestos-related disease sufferers in the wake of the collapse of Chester Street Holdings Ltd earlier this year has succeeded.
The government has agreed arrangements with the insurance industry to make good any shortfall in compensation payouts to asbestos victims.
TUC General Secretary John Monks said: “I’m glad that the government has convinced the insurance industry to resolve this unfortunate matter. Since Chester Street became insolvent, many asbestos victims and their families have spent the past five months worrying as to whether they would ever get the compensation to which they are rightly entitled. Insurance is often regarded as a necessary evil – but it’s only a necessity if it pays out when it should.
“No amount of money can ever bring back the health of asbestos victims, but it will at least let them end their lives knowing that provision has been made for their loved ones. To avoid any further unnecessary suffering, for the sake of these workers and their families, I urge the insurance industry to move swiftly to settle all the current claims.”
