ABI: The ABI backs Lord Young’s recommendations on health and safety
Lord Young’s review of health and safety legislation published today should be the blueprint for a common sense approach to health and safety says the ABI.
Commenting on the report Common Sense, Common Safety, Nick Starling, the ABI’s Director of General Insurance and Health, said:
“We welcome this report, and support its recommendations. Lord Young has done a good job in identifying how badly interpreted or misunderstood regulation, bureaucracy and disreputable claims management firms have led to the health and safety culture being viewed as being out of control.
“We are pleased that the report recognises the effectiveness of existing health and safety legislation. Insurers are playing an important role in helping customers manage risk. Implementing Lord Young’s recommendations can create a culture of responsible risk taking by individuals and businesses, backed by proportionate health and safety regulation, and underpinned by insurance.
“We are very pleased that the report recommends a crackdown on irresponsible claims management firms. Not only do they help fuel public belief that behind every accident there should be a claim, but they add costs to the legal system, that ultimately are borne by all insurance customers.
“We must now ensure a better deal for people who suffer injury where someone else is negligent. The current compensation system is too slow, complex and is riddled with excessive legal costs. We look forward to working with Government to implement the recommendations of Lord Justice Jackson’s review into civil litigation, to ensure that claimants get fair compensation as quickly as possible.”
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Notes for Editors
1. Enquiries to:
Liz Forster 020 7216 7444 (Mobile: 07717 578 586)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
Kelly Ostler-Coyle 020 7216 7415 (Mobile: 07968 364 302)
2. The UK insurance industry is the third largest in the world and the largest in Europe. It is a vital part of the UK economy, managing investments amounting to 24% of the UK’s total net worth and contributing the fourth highest corporation tax of any sector.
Employing over 275,000 people in the UK alone, the insurance industry is also one of this country’s major exporters, with a fifth of its net premium income coming from overseas business. Insurance helps individuals and businesses protect themselves against the everyday risks they face, enabling people to own homes, travel overseas, provide for a financially secure future and run businesses.
Insurance underpins a healthy and prosperous society, enabling businesses and individuals to thrive, safe in the knowledge that problems can be handled and risks carefully managed. Every day, our members pay out £155 million in benefits to pensioners and long – term savers as well as £58 million in general insurance claims.
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4. More news and information from the ABI is available on our web site, www.abi.org.uk.
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