Expertise in Action: Employers’ Liability: Taking the hit
The Mesothelioma Act means the employers’ liability market will suffer another hit as it seeks to absorb the costs of funding the compensation scheme.
Stormy weather lies ahead for the poorly performing employers’ liability market, according to leading insurers and brokers. They say it is unlikely to absorb the 2.74% levy on premiums – or £371m annual cost – that will fund compensation for mesothelioma sufferers unable to trace insurers or employers.
The levy is part of a package of reforms introduced in the Mesothelioma Act, passed by parliament at the end of January. Its aim is to plug a gap that left some sufferers of the fatal asbestos
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