The UK employers' liability insurance market continues to swim in difficult waters. While the introduction of the EL claims portal is likely to have calmed some costs, the market faces other growing challenges impinging on its loss ratio, from continued noise-induced hearing loss (NIHL) claims to the cost of the diffuse mesothelioma scheme.
Compare a whole market view, informed by a series of insurer interviews, against your own experience and expectations.
Develop strategies to approach opportunities arising in the market, and prepare for emerging challenges.
What are other insurers in the market most concerned by, and may there be consequences you haven't considered?
How does the market's performance in 2013, and perceptions of its future shape, compare when benchmarked to your experience and forecasts?
The employers' liability market accounted for GWP of 1,418m in 2013, an increase of 4.8% on 2012. This follows on the back of 3.5% growth in the year before, illustrating the slow-but-sure growth that is occurring.
The shape of the CRU registered claims profile matches the perceptions of insurers interviewed by Verdict Financial, with reasonably stable accident claims mixed with spiralling disease claims. This has largely been driven by NIHL claims.