The Association of British Insurer's (ABI) proposed voluntary mesothelioma compensation scheme is open to negotiation and discussion with interested parties, the association has emphasised.
The proposed scheme attracted criticism from claimants' lawyers and asbestos experts in the wake of the Fairchild case earlier this week.
They said it would be unattractive to claimants and was unlikely to stop further mesothelioma claims against employers.
However, an ABI spokesman said the shape of the scheme had not been decided.
"We're still hoping that people will be prepared to respond positively and sensibly," he said.
He said a voluntary scheme, which was a "genuine attempt to improve the situation for hundreds of claimants", could still be necessary, depending on the House of Lords' decision on Fairchild, Fox and Matthews.
"This would be a case of insurers going beyond their legal obligations," he added.
