Review of employers' liability insurance underway

摘要

THE CHANCELLOR HAS ANNOUNCED A REVIEW of compulsory employers' liability insurance to tackle the crisis of soaring premiums and firms forced to trade illegally without cover. The Office of Fair Trading is also launching a complementary fact-finding study into the liability insurance market to see whether it is working effectively. It will examine recent large increases in premiums, reported reductions in underwriting capacity and increases in excesses required by insurers. Mary Francis, Director General of the Association of British Insurers, blamed recent legal changes, such as "no-win, no-fee" arrangements, and personal injury award inflation for increased premiums.