Axa says EL rates must rise again

Research carried out by Axa Insurance has found that more than 210,000 small and medium-sized businesses in the UK were operating illegally without employers’ liability insurance cover, affecting around 1.8mn employees. The insurer warned that rates will have to rise further. Axa said that rates had gone up by 30% to 40% in 2002, and it said rates would have to rise by a further 20% to 30% in 2003.