RETENTION OF INSURANCE RECORDS AND COMPENSATION CLAIMS

That this House is alarmed at the Government's proposed repeal of Regulation 4(4) of the Employers' Liability (Compulsory Insurance) Regulation 1998; highlights that this move has been met with widespread industry opposition; acknowledges that this repeal will result in employers no longer having to keep insurance records for 40 years; believes this will impact negatively on highly vulnerable people, leaving them without the means to claim compensation; is especially concerned about the effect this will have on asbestos victims as it takes 30 to 40 years for asbestos to develop and, without sufficient insurance records, it will be nearly impossible to claim compensation; and calls upon the Government to reconsider repealing the regulations and instead to improve the enforcement of them through harsher penalties for employers who do not conform to them.