Asbestos payment rate challenged

PricewaterhouseCoopers (PWC) has written to MPs to explain the process of compensation payment to asbestos victims, following questions about the speed of compensation from Chester Street Insurance.

Iron Trades Management Services, which are handling the compensation claims of Chester Street, had been criticised by Scottish Secretary of State Helen Liddell for slow payment of claims.

Chester Street's liquidators PWC met with Liddell and the Association of British Insurers last week to discuss the issue.

A PWC spokeswoman said, although it did not believe payment was slow, the company had written a guide for MPs so they could explain the process when approached by constituents.

She said PWC would also work with claimants' solicitors to see if the exchange of forms required for payment could be speeded up.