Asbestos may cost Federal Government $400 million
A key test case has found that waterside workers were not protected while unloading asbestos in the 1950s and ’60s, leaving the Federal Government to foot the bill for more than 1000 claims. The Government opted to compensate former wharfies rather than contest liability.
The stevedoring industry finance committee’s actuarial consultant revealed that claims could cost up to $440 million, but it is expected that the most likely outcome will be half that figure. (The payouts will go to former workers suffering from cancer and their families although many more claims are expected to continue for many years.