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Damning New Report Puts The Spotlight On Mesothelioma Claims
A report in the Independent on Sunday newspaper has highlighted another aspect of the ongoing saga of mesothelioma - the inability to locate insurers responsible for providing insurance to companies accused of negligence in their treatment of workers exposed to asbestos.
The report claims that the Association of British Insurers (ABI) has only one person in its ‘insurance tracing’ department dealing with a mountain of requests to locate insurers that may have already gone out of business. Because of the length of time mesothelioma takes to develop (between 20-40 years after initial exposure), claimants are finding it increasingly difficult to pinpoint the insurance companies who held the policies for companies who may have since stopped trading. “It’s yet another blow to mesolthelioma victims who are desperately seeking compensation so their families will not be left in financial hardship once they’ve gone,” says Nick Jervis, managing director for specialist claims solicitors, 1st Claims. “The way this whole affair is being handled is bordering on the incompetent,” he adds.
The ABI’s insurance tracking scheme is designed to trace the details of defunct companies, enabling victims to pursue claims. But the self-regulated system is failing to find almost half of the policies which would cover victims’ compensation claims, saving the insurance industry an estimated £60million a year. This figure has been described as an ‘astronomical windfall for the insurance industry’ by concerned parties from the campaign actively fighting for compensation for asbestos victims.
The ABI’s insurance tracking scheme is designed to trace the details of defunct companies, enabling victims to pursue claims. But the self-regulated system is failing to find almost half of the policies which would cover victims’ compensation claims, saving the insurance industry an estimated £60million a year. This figure has been described as an ‘astronomical windfall for the insurance industry’ by concerned parties from the campaign actively fighting for compensation for asbestos victims.
The Government has also commented on the situation, saying that the scheme has been such a failure that it was now considering the establishment of a ‘more formal’ tracing office and the creation of a ‘fund of last resort’ to compensate victims whose insurers could not be traced. “It’s understandable that the ABI does face difficulties in tracing insurers from as long ago as 40 years, but to only have one person dealing with these enquiries is laughable,” says Nick. “Perhaps this is one time when the Government does need to step in and take control of the situation, as long as its idea of a tracing office is more effective than the attempts we’ve seen so far. Leaving thousands of victims unable to pursue fully justified claims and spending the rest of their lives coping with the financial hardships that go hand in hand with a fatal disease is completely unacceptable,” he concludes.
Mesothelioma is still continuing to claim victims every week, and the numbers are not expected to peak for at least another 10 -15 years. Asbestos is the biggest workplace killer in the UK, and specialists in dealing with claims for compensation are putting mounting pressure on the ABI to sort this situation out as quickly as possible. In the meantime, more than 3,000 people are left without hope of compensation for a disease which, at present, has a 100% mortality rate.
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