FAIR Act of 2005

[AI summary unavailable — showing source text] Fairness in Asbestos Injury Resolution Act of 2005 or FAIR Act of 2005 - Establishes within the Department of Labor the Office of Asbestos Disease Compensation, to be headed by an Administrator responsible for processing claims for compensation for asbestos-related injuries and managing the Asbestos Injury Claims Resolution Fund (Fund) (established within such Office). Authorizes the Administrator to establish a Medical Advisory Committee. Requires the Administrator to: (1) establish an Advisory Committee on Asbestos Disease Compensation; (2) establish a comprehensive asbestos claimant assistance program that includes legal assistance; and (3) appoint physicians to claim-specific Physicians Panels. Establishes: (1) procedures for handling claims of asbestos-related disease and injury; (2) medical evidence auditing and review procedures and applicable medical criteria; and (3) award amounts and payment methods. Imposes a general four-year statute of limitations for filing claims, with special provisions for pending claims and multiple injuries. Allows certain asymptomatic claimants to receive medical monitoring reimbursement. Specifies the funding allocation for asbestos defendants …