The Office of Fair Trading has launched a study into the UK liability insurance market.
The Office of Fair Trading (OFT) has launched a study into the UK liability insurance market.
The OFT revealed this morning that the study will look at public, product, professional and employers' liability insurance.
Primarily the OFT study will analyse current and past premiums, and aim to paint a picture of why premiums have risen.
Over recent months, concerns have been raised over the effectiveness of the liability market. Some sectors have claimed there have been deliberate reductions in underwriting capacity and increases in excesses.
The study has been launched following initial work by the OFT including talks about market developments with the Association of British Insurers and Government departments.
The OFT aims to publish the report in spring 2003.
