CAMAC issues discussion paper on company liabilities for future personal injury claims

The Corporations and Markets Advisory Committee (CAMAC) has released a discussion paper Long–tail liabilities: The treatment of unascertained future personal injury claims

The paper responds to a request from
the Parliamentary Secretary to the Treasurer, the Hon. Chris Pearce,
MP, following the Special Commission of Inquiry into Medical research and Compensation Foundation (the James Hardie Inquiry) for the Committee to consider the adequacy of arrangements under
the law for the protection of individuals who in the future may have
personal injury claims against companies
that have been involved in the manufacture and distribution of products
that give rise to health problems or diseases after the lapse of a
significant period of time (such as asbestos).

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