Liability market could work better says OFT

The Office of Fair Trading (OFT) study into UK liability insurance markets has concluded that the markets could work better. The five-month OFT study found that in 2002 average premiums for employers’ liability insurance rose by 50%, public and product liability by 30% to 40% and professional indemnity by 30% to 60%. This follows a six-year period during which liability insurance premiums fell in real terms by about 14%.