An EL of a class.
Employers' liability insurers are starting to push through significant premium increases. With rising personal injury awards and medical inflation higher than RPI, Graeme Sutton says such rate increases are more than justified.
Employers' liability insurers have developed a love-hate relationshipwith this class of business. As it is a mandatory cover, there is no need
to persuade clients to buy, but premiums have been soft for many
years.
This means it is a relatively easy sale that has consistently failed to
generate sufficient income.
However, there are now indications that the market is hardening. Insurers
are reporting rate increases of between 10 and 14%, and it is predicted
that this could increase to 26% by 2001
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