Companies have been warned they face heavy fines if found guilty of a proposed new "corporate killing" charge.
The Government plans to change the law to make it easier to prosecute companies for management failures that cause or contribute to fatal accidents.
The Law Commission's proposal to introduce corporate killing is intended to make it easier to prosecute companies rather than their directors.
Reg Brown, underwriter of Lloyd's syndicate RE Brown & Others, said: "The proposed legislation does not contain any guidelines or limits on the amounts of fines which could be imposed for corporate killing."
He said insurers would not respond to fines because it would be against public policy that a wrongdoer should be indemnified for the consequences of their own criminal actions.