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Article: EPLI Market To Soar In United Kingdom.
- Article from:
- National Underwriter Property & Casualty-Risk & Benefits Management
- Article date:
- November 8, 1999
- Author:
CopyrightCOPYRIGHT 1999 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The employment practices liability insurance market is set to take off in the United Kingdom as a result of several significant changes in the law, including the recent increase in the compensation limit for unfair dismissal cases, several industry experts predict.
Beginning on Oct. 25, compensation awards for successful unfair dismissal claims rose from a maximum of [pound]12,000 to [pound]50,000 ($19,920 to $83,000).
While EPLI has become a big business in the United States, EPL-type compensation claims traditionally haven't been an insured risk in the United Kingdom because the amount of compensation has been relatively low, said Gary Freer, partner ...