asked the Minister for Industry, Trade, Commerce and Tourism the level of increase in premiums in (a) public liability insurance; and (b) employers liability insurance over each year from 1980 to date.
Written Answers. - Insurance Premiums Increases.
63.
Total gross premium income in respect of liability insurance, for all non-life insurers for the years 1980 to 1984 was as follows:
|
(£000) |
% increase on previous year |
|
|
1980 |
52,799 |
26.88 |
|
1981 |
64,590 |
22.33 |
|
1982 |
67,155 |
3.97 |
|
1983 |
70,976 |
5.69 |
|
1984 |
88,465 |
24.64 |
These figures are published in the annual Summary of Statements of Assurance Business (the "blue book"). The figure for 1984 is provisional, pending finalisation of the 1984 blue book. Details for the year 1985 are not yet available. A breakdown of these figures, as between the different categories of general liability business, of which public liability and employers liability insurance form the bulk, is not available. It should be noted that premium levels are influenced by factors such as premium rate increases implemented by insurers due to adverse underwriting experience; changing insured values (for example wage costs, turnover) on which ratings are based; and overall market volumes in each year.