VICTIMS OF ASBESTOS RELATED DISEASE AND IRON TRADES INSURERS

Motion Text

That this House is extremely concerned to learn that thousands of asbestos related disease sufferers and other industrial injury victims may be unable to claim compensation because the Iron Trades Insurers hived off the company's pre-1990 liabilities into a separate company registered as Chester Street Insurance Holdings Ltd that recently went into voluntary liquidation, suggesting that it may well have been launched with inadequate resources; and calls on the insurance industry to give an undertaking that it will settle all current claims not covered by the company's assets as well as those which arise in the future.