Employers' liability
A dramatic increase in work related claims, married to a growing compensation chasing culture, is stretching some small to medium enterprises to breaking point. James Salmon picks over the bones of the argument and offers some possible solutions
Employer's liability (EL) premiums have rocketed over the last 18 months as insurers have attempted to stave off massive underwriting losses with recent figures pointing to a premium hike of up to 40-50%.
Insurers argue they have been left with little choice but to address the deficit caused by the rising number of work-related claims and increasingly hefty payouts. Of course, as all businesses are required by law to have EL cover, such a dramatic increase has hit every employer where it hurts.
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