EL faces year without online processing
“If insurers make this mandatory, this could effectively stop e-trading [in this sector] altogether” – Simon Ronaldson, Acturis
A change to employers’ liability (EL) insurance could make it impossible for brokers to process relevant policies online for at least the next year.
From April 2012, it will be compulsory for firms purchasing EL insurance to supply their employee reference number (ERN). This change has come about as a result of regulations published by the Financial Services Authority (FSA) in February, which compel insurers to publish policy data for EL.
To set the ball in motion, insurers have begun to request
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