Derek McLaughlan.
Employers' liability is currently proving to be a difficult class to write profitably. Insurers must stand firm and resist the temptation to cut rates in order to gain business.
Controlling ever increasing claims costs is a major challenge for theemployers' liability market.
Trends in claims inflation and developments, such as the introduction of
the Ogden actuarial tables and the Woolf reforms, increase this focus.
The use of the Ogden tables in calculating the level of damages linked to
a 3% prescribed rate of return for investment calculations has seen lump
sum awards rise by as much as 40%. The return on Index Linked Government
Securities has fallen further to below 2
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