Abstract
Introduction
The report is an invaluable guide to the UK employers' liability insurance
market, providing insight into competitor strategies, profitability and
performance as well as overall market growth and trends. It examines trends in
distribution and identifies the key drivers behind claims inflation. The
report also provides forecasts for the size and profitability of the market up
to 2013.
Scope of this research
- A discussion of the competitive issues and prevailing trends within the
employers' liability market
- Analysis of the factors driving the market' s recent performance
- Forecasts of GWP growth up to and including 2013, based on Datamonitor' s
in-house expertise and interviews with senior industry executives
Research and analysis highlights
Many insurers that Datamonitor contacted noted that the market has become
differentiated with certain sectors suffering from competitive pricing more
than others. Most insurers reported flat or moderately increasing rates for
renewals while new business quotes continued to attract intense competition
and lower premium rates
The primary reason for the lack in growth in the claims bill between 2004 and
2008 was the reduction in the number of employers' liability claims. This has
been countered however by relatively high claims inflation and the high cost
of settling each claim.
A majority of SMEs that would buy online were inclined to purchase products
such as public or employers' liability insurance. This reflects not only the
widespread and common use of these products by SMEs but also the relatively
commoditized nature of these insurance products that often can be included in
packages that target smaller SMEs.
Key reasons to purchase this research
- Obtain a comprehensive understanding of the key trends in the employers'
liability market insurance in the UK.
- Benchmark your company against your competitors based on current and past
performances in the market.
- Develop your future business plans from an informed viewpoint with
Datamonitor' s GWP forecast for the employers' liability insurance market.
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