Published : Feb-2021
No. of Pages : 32
1. Executive Summary
1.1 The employers' liability market is dependent on the UK economy
1.2 Key findings
1.3 Critical success factors
2. Market Dynamics
2.1 Employers' liability GWP declined in 2019, but strong underwriting profit marked a positive year for insurers
2.2 Employers' liability has maintained strong underwriting profit
2.3 Claims numbers continue to fall post-LASPO
2.4 The Civil Liability Act has been delayed again - this time due to COVID-19
3. Competitor Dynamics
3.1 Leading general liability insurers saw swings in 2019 market shares
4. The Market Going Forward
4.1 Employers' liability GWP is forecast to continue its decline as the pandemic's impact will be felt
4.2 A number of factors will influence growth in the market
5. Appendix
5.1 Abbreviations and acronyms
5.2 Definitions
5.3 Methodology
5.4 Further reading
List of Tables
Table 1: The number of employing private sector businesses and employment in the UK, 2014-20
Table 2: The number of private sector businesses by number of employees, 2014-20
Table 3: The number of private sector employees and businesses by industry, 2019-20
Table 4: Employers' liability ratios, 2015-19
Table 5: The total number of personal injury claims in the employers' liability market, 2010-20
Table 6: Total number of fatalities and injuries in the workplace, 2013-20p
Table 7: Leading UK general liability insurers by GWP (£000s), 2018-19
Table 8: Employers' liability market GWP forecasts, 2019-24f
List of Figures
Figure 1: The employers' liability insurance market saw a sharp decline in GWP in 2019
Figure 2: Growth in the number of UK businesses slowed in 2020 - but the worst is yet to come
Figure 3: In 2020, growth in the number of UK businesses was mainly driven by the Midlands
Figure 4: The employers' liability market maintained strong profit in 2019 despite a slight drop off
Figure 5: The number of recorded claims has seen a long-term decline, but settlements rose in 2019-20
Figure 6: Average claims cost has remained steady in recent years
Figure 7: The number of non-fatal workplace injuries is in long-term decline
Figure 8: Zurich led the market in 2019 despite Aviva's surge
Figure 9: AXA is the most popular employers' liability provider among SMEs
Figure 10: Over half of respondents who switched employers' liability provider in 2020 had COVID-19 in mind
Figure 11: Growth in the employers' liability market will be hit by COVID-19 and Brexit
Figure 12: GlobalData's forecasting model
