The introduction of a no-fault workers' compensation scheme would cost insurers and the government £1.5bn a year. That's according to research by consultants Greenstreet Berman.
The study concluded that a scheme - similar to the Australian model of allowing claimants unrestricted access to litigation - would push Britain's compensation bill from £5.99bn a year to £7.49bn.
Critics of the plan point to recent surges in the cost of employer's liability insurance, fuelled by soaring legal fees.
ABI head of general insurance John Parker said a no-fault system was not the answer to the problem. He said: "No-fault does not necessarily reduce legal costs and could lead to an increased level of legal costs as more claims are made and levels of awards are contested."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
