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Follow on Google News | UK Employers' Liability Insurance 2010: New research report available at Fast Market ResearchRecently published research from Datamonitor, "UK Employers' Liability Insurance 2010", is now available at Fast Market Research
The UK employers' liability report provides insights into recent market developments, regulations, distribution landscape and competitor strategies. It analyses competitor profitability and performance as well as overall market growth and trends. Features and benefits * Gain insight into the recent regulatory and market trends in employers' liability insurance * Assist in strategy development, looking at other competitors' performance and distribution patterns * Understand the market potential in the UK employers' liability market Highlights The employers' liability market remained largely flat in 2009 when compared with 2008, and witnessed an increased level of competition in 2010. The commercial line's gross written premiums (GWP) declined in 2009 alongside flat rates overall, with some insurers displaying single digit increases at best. Your key questions answered * How has the UK employers' liability market changed in the recent years? * Who are the main competitors and how have they performed in the recent years? * What are the key regulatory changes affecting the UK employers' liability market? For more information or to purchase this report, go to: - http://www.fastmr.com/ Partial Table of Contents: Executive Summary The market continued to shrink in The employers' liability market remained largely flat in 2009 compared with Due to rising unemployment, the market is likely to have experienced a lower policy count Workplace injuries reported under the Reporting of Injuries, Diseases, and Dangerous Occurrences Regulations 1995 have declined gradually in recent years Brokers continue to dominate the distribution of commercial insurance National brokers are the main distributor of commercial insurance Direct players and price comparison sites have a small but sound share of the market Banks and building societies continue to sell minimal amounts of commercial insurance Following a drop in Axa's GWP, the top five insurers are now Zurich, RSA, Aviva, QBE, and Allianz Allianz has now joined the ranks of the top five competitors Managing general agencies are considered the key competitors, and have significant potential in terms of Solvency II The employers' liability market will continue to be highly competitive The impact of the recession, unemployment, and competitive pressures will continue to shape the employers' liability market OVERVIEW Catalyst Summary MARKET CONTEXT Introduction Employers' liability insurance is often sold with public/product liability, as well as motor and property insurance policies The market continued to shrink in The employers' liability market remained largely flat in 2009 compared with Proportion of the business written through the Lloyd's market has been declining over recent years Premium rates were either flat or recorded single digit growth Increased competition in the market has had an impact on premium rates Due to rising unemployment, the market is likely to have experienced a lower policy count The market continues to operate with underwriting losses The trend of underwriting loss for employers' liability continued into 2009, along with a decline in net written premiums Commission rates and expenses remained largely flat in 2009 compared with Employers' liability claims costs decreased slightly in Gross claims decreased by 0.3% in 2009, compared with a growth rate of 9.6% in Employers' liability claims volumes continue to decline, particularly in terms of injury claims caused by disease Workplace injuries and ill health also continue to decline Workplace injuries reported under RIDDOR have declined gradually in recent years Workplace injuries including acts of violence have also declined Workplace fatalities peaked in 2008- Total estimated number of workplace injuries declined by 4.3% in 2009- Following the adjustment of HSE data, there has been a steady increase in the number of cases of occupational disease Regulations and current issues in the market Trigger Litigation Lord Young's health and safety review Lord Justice Jackson's review of civil litigation costs Employers' Liability Tracking Service CUSTOMER FOCUS Introduction Brokers continue to dominate the distribution of commercial insurance National brokers are the main distributor of commercial insurance Direct players and price comparison sites have a small but sound share of the market Banks and building societies continue to sell minimal amounts of commercial insurance The majority of brokers now perceive direct underwriting by insurers as the greatest threat to their share of the market Brokers identified small commercial vehicles and commercial property as the lines most at risk from direct distribution The great majority of brokers sell both employers' liability and public liability insurance SMEs value face-to-face and telephone contact with their insurance provider Clients who are looking to change their insurance provider are primarily looking for face-to-face or telephone contact Arranging an insurance policy via the Internet is more common among micro SMEs, while demand for face-to-face contact increases in direct proportion to the size of the company A number of SMEs have not changed their insurance provider for over 10 years The likelihood of using a broker to buy commercial insurance increases with the size of the business Many SMEs indicated that they would buy employers' liability online COMPETITIVE DYNAMICS Full Table of Contents is available at: -- http://www.fastmr.com/ About Datamonitor The Datamonitor Group is a world-leading provider of premium global business information, delivering independent data, analysis and opinion across the Automotive, Consumer Markets, Energy & Utilities, Financial Services, Logistics & Express, Pharmaceutical & Healthcare, Retail, Technology and Telecoms industries. Datamonitor's market intelligence products and services ensure that you will achieve your desired commercial goals by giving you the insight you need to best respond to your competitive environment. View more research from Datamonitor at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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