UK corporate insurance premiums fall by 20%, according to Aon

A combination of fewer claims, more proactive risk management and new insurers, such as QBE, has lead to increased competition and reduced rates. Insurance brokers are negotiating up to 20% decreases in premium for cover including property and liability. And this comes at a time when the risks to business are increasing, as the Corporate Manslaughter Act, a 15% increase in employment tribunals and a 2007 record high for product recalls could lead to more liability claims.

Mr Crawford commented: