UK Employers’ Liability Insurance: Market Dynamics and Opportunities 2018
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"UK Employers’ Liability Insurance: Market Dynamics and Opportunities 2018", report tracks the health and shape of the employers’ liability market – taking into account market size, profitability, performance ratios, and the claims environment. Bringing this to life, the context of the UK’s economic growth and business landscape, as well as the possible impact of a post-Brexit environment, are all taken into consideration to build a full picture of this space. Key announcements, shifts in the market, and likely future changes are analyzed for impact across all relevant stakeholders.
The UK employers’ liability market has faced a turbulent period. Factors such as Brexit impacting the underlying drivers of demand and the decision to set the Ogden discount rate at -0.75% have forced insurers to raise premiums in order to protect themselves from increased costs. Despite these challenging conditions the employers’ liability market experienced growth in 2017, with gross written premiums (GWP) increasing by 3%. The future of the space will undoubtedly be influenced by the outcome of Brexit on the UK economy, meaning the outlook is uncertain.
Scope
– The employers’ liability market grew by 3.4% in 2017 as GWP reached £1,242m.
– Changes to the Ogden rate forced insurers to increase premiums, and can be seen as one of the driving forces behind growth in 2017. But despite this increase the market has remained highly competitive.
– The underlying demand drivers of business numbers and employee numbers both rose, giving the employers’ liability market an increased potential customer base.
Reasons to Buy
– Review your strategy against both existing and new challenges regarding the employers’ liability market.
– Benchmark against the market's experience of size, growth, performance, and claims environment.
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