James Hardie Proposes Compensating Asbestos Victims in Installments

Asbestos victims who filed claims against James Hardie Industries, an Australian building materials company, may never live to see their legal compensation if a court approves the manufacturer's plan to pay claimants in installments, and not the traditional lump-sum payments. The reason for the installment plan: Hardie's Asbestos Injuries Compensation Fund is headed toward a $184 million cash shortfall in 2017 because of a spike in mesothelioma claims. If the Supreme Court of New South Wales (NSW) grants approval, the installment plan will take effect July 1. Advocates for those affected by mesothelioma are outraged by the company's proposal because the average life expectancy for people diagnosed with the asbestos-related disease is less than two years. Those patients need the lump sum of their compensation as quickly as possible to pay for expensive treatments, lost wages, expenses not covered by insurance and other costs. "Asbestos victims don’t die in installments," Asbestos Diseases Foundation of Australia President Barry Robson wrote in a press release. "They don’t lose the ability to work or care for themselves in installments, yet James Hardie wants to see them compensated in that way." Robson voiced his ire about the company's negligence, stating the manufacturer "spent decades knowingly selling these deadly [asbestos] products" still found in millions of homes and businesses across Australia. History of James Hardie in Australia Australia’s history with the m...
Source: Asbestos and Mesothelioma News - Category: Environmental Health Authors: Tags: Legislation, Laws & Litigation Source Type: news