Insurance2day Insurance Services Ltd

On June 11 2008 we posted an article about Employer’s Liability Insurance explaining that current legislation requires Certificates of Employers’ Liability cover to be displayed at all business premises and copies retained for forty years. The government are now looking into proposals to scrap the requirement for certificates of insurance to be retained for 40 years from 1 October 2008 which could leave companies financially exposed as insurers can only respond to claims when the insurer on cover at the time of exposure to any long tail injury/disease can be identified. For periods where insurer details cannot be identified full liability lies with the company. Additionally such a change in legislation would put increased pressure on the Association of British Insurers’ voluntary Employer’s Liability Insurance Tracing Code. An ideal alternative to companies retaining their own records would be for a national database to be set up similar to that currently operational for car insurance, so that all Employer’s Liability Insurance could be automatically recorded. Since like motor insurance Employer’s Liability Insurance is a statutory requirement this would offer an ideal solution.

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