The ABI said its Making the Market Work initiative to improve the EL market is raising health and safety awareness among British firms.
Since its launch in September 2003, the ABI said trade associations representing nearly 200,000 firms had submitted schemes for assessment.
Under the initiative, trade associations submit details of their health and safety schemes to an ABI committee of El insurers for assessment. Details of each assessment are then fed back to the trade body and circulated to EL insurers so that they can be taken into account when assessing individual firms.
ABI head of general insurance John Parker, said: “The encouraging take up of the scheme shows the importance of good health and safety in helping firms to manage their liability insurance costs.
“Armed with up to date information, insurers are in a much better position to reward good health and safety practices.
“Some of the schemes we have seen are very good; in some cases we have suggested improvements. As more schemes are assessed, we expect to see an overall rise in health and safety standards among businesses.
The scheme has also attracted the approval of the Minister for Work, Jane Kennedy, said the ABI.
