Business Insurance Costs

EDM number 146 in 2002-03, proposed by Brian Cotter on 19/11/2002.

That this House notes with concern the substantial increase in the insurance costs to business for employer's liability and public liability cover; further notes that businesses have had premium increases of 500 per cent. or more imposed, or have been refused insurance cover at short notice; recognises the recent findings of the British Chamber of Commerce survey, showing that 9 per cent. of manufacturing companies have been refused cover, along with 6 per cent. of other businesses; considers that the Government should take an urgent lead; and calls upon the Government to promote an enforceable code of conduct, ensuring a consistent and transparent approach by the insurance industry, and that an acceptable notice period is given when premiums are to be raised significantly or cover is to be withdrawn and to instigate an inquiry into this issue.

This motion has been signed by a total of 90 MPs.