BIBA Chief executive Mike Williams will offer to spearhead an industry group to tackle the Employer's Liability crisis, at the Employers' Liability (EL) crisis conference tomorrow, September 6.
Wil ...
BIBA Chief executive Mike Williams will offer to spearhead an industry group to tackle the Employer's Liability crisis, at the Employers' Liability (EL) crisis conference tomorrow, September 6.
Williams said: "The Employers' Liability Industry Group would be similar to the one that BIBA successfully initiated on Terrorism cover and which will involve major insurers, BIBA, the ABI and other officials.
He added: "BIBA has said from the start that there are two key issues - the short and the long-term approach to the liability crisis, but we believe we need a three stage attack to help small and medium-sized businesses to continue to survive. I believe the setting up of a specific group which will involve experts from the industry and other sources, could considerably help."
The half-day conference will discuss the issue of small and medium-sized companies obtaining commercial insurance.
Insurers will look to find ways, in collaboration with the brokers, of dealing with the short-term problem.
Mike Williams said: "The short term issue is to discuss at the conference how we can give small businesses access to affordable liability insurance now and, how through proper risk management, companies can also help themselves.
He added: "At the meeting we will look to explore all the options in the marketplace, and the role that risk management can play in helping customers through current difficulties. The long term issue is to look at a range of proposals from capping liabilities, to pooling arrangements for specific groups, a reinsurance pool - perhaps financed by a market levy on premiums and reforming the law."
