Lloyd’s has reported that employer’s liability (EL) insurance premiums may fall in price as wage rolls are reduced. 
With the current downturn well under way, firms that have had to shed staff are most likely to benefit from a fall in the price of their EL premiums.
However, there is a chance that EL premiums may rise for some companies. This could happen if EL claims increase as staff numbers drop.
Head of Casualty at Aon Global UK, Guy Maylon, has stated how important it is for businesses to make the right expenditure cuts in the reccession. Any cost cutting that may have a negative effect on employees could cause an increase in expenditure if more EL claims are made.
It’s safe to assume that this advice is relevant to Public Liability too.
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