UK Employers Liability Insurance: Market Analysis Revealing Key Drivers & Growth Trends through 2022

Market Research Hub (MRH) has recently added a new report to its vast online database. "UK Employers Liability Insurance: Market Dynamics and Opportunities 2017", report tracks the health and the shape of the UK employers liability market, taking into account market size, profitability and performance ratios, and the claims environment. The context of the UKs economic growth, business landscape, and the impact of a post-Brexit environment are all taken into consideration to build a full picture of this space. Key announcements, shifts in the market, and likely future changes are analyzed for impact across all relevant stakeholders.

Request For Free Sample - https://www.marketresearchhub.com/enquiry.php?type=S&repid=1350241

The unexpected extent of changes to the Ogden rate has shaken the employers liability (EL) market. Premium rate rises have been forced on a sector characterized by over-capacity and high levels of competition. In spite of recent rate increases, underlying market dynamics persist, and the sector faces a period of continued turbulence due to uncertainties over key pieces of legislation and the performance of the economy.

Scope

- UK EL market gross written premium (GWP) contracted by 7.4% in 2016.
- Insurers have responded to the 2017 discount rate change with significant reserve strengthening and premium rate rises, which has led to estimates of more robust GWP growth.
- The number of accident and disease EL claims recorded fell significantly in 2016-17 (-15.2%) as a result of the impact of the LASPO spike.
- Noise-induced hearing loss claims waned in combination with continued improvements in workplace health and safety.

Reasons to buy

- Review your strategy against both the existing and new challenges regarding the employers liability market.
- Benchmark against the market's experience of market size, growth, performance, and claims environment.

Browse Full Report With TOC - https://www.marketresearchhub.com/report/uk-employers-liability-insurance-market-dynamics-and-opportunities-2017-report.html

Table of Contents

1 EXECUTIVE SUMMARY 1
1.1. Market summary 1
1.2. Key findings 1
1.3. Critical success factors 1
2. MARKET DYNAMICS 7
2.1. Underlying demand for employers liability slowed in 2016, particularly among smaller companies 7
2.1.1. The number of businesses and employees continued to grow in 2016, but at a slower rate 7
2.1.2. The greatest slowdown is occurring among smaller companies 9
2.1.3. SMEs account for over 52% of private sector employees 11
2.1.4. The UK economy has continued to shift from manufacturing to services 12
2.1.5. Most sectors have contributed to the slowdown in demand 12

2.1.6. The underlying macroeconomic environment remains positive, but has slowed 15
2.2. High levels of competition continued to dampen EL growth in 2016, but Ogden has since led to premium rate rises 16
2.2.1. The UK EL market contracted in 2016 16
2.2.2. Premium rates were flat or slightly negative in 2016, with EL performance in line with the last few years 18
2.2.3. Changes to the discount rate had a substantial impact on the market, leading to premium rate increases in 2017 18

2.2.4. Competitive positions are believed to have remained largely stable 19
2.3. EL remains unprofitable in spite of recent premium rate increases 21
2.3.1. Employers liability has not made an underwriting profit since 2005 21
2.3.2. EL loss ratios continue to be plagued by claims inflation that has outpaced premium rate rises in recent years 23
2.3.3. EL expense ratios are under pressure 24
2.4. The number of EL claims recorded is falling, while NIHL continues to drive up claims settled 24
2.4.1. Recorded EL claims continue to fall, driven by drops in accident and disease 24
2.4.2. NIHL claims activity is on the wane 26

Continue…..
Enquire About this Report - https://www.marketresearchhub.com/enquiry.php?type=enquiry&repid=1350241

About Market Research Hub:

Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.

MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.

Contact Details:

90 State Street,
Albany, NY 12207,
United States
Toll Free : 800-998-4852 (US-Canada)
Email : press@marketresearchhub.com
Website : https://www.marketresearchhub.com/
Read Industry News at - https://www.industrynewsanalysis.com/

This release was published on openPR.