Following its consultation (CP 10/13) which closed on 14 September 2010, the FSA published on 25 February 2011 a policy statement (PS11/4) on its proposals for helping consumers trace their existing or former employers' liability insurers more easily. The policy statement reports on the main issues arising from CP 10/13 and publishes the FSA's final rules. The two main developments are:
- the creation, by the FSA, of a comprehensive list of insurers potentially liable for UK commercial lines employers' liability insurance which will also include a link to the tracing information; and
- the requirement for insurer to produce an Employers' Liability Register.
The FSA is continuing to consult on how to deal with historical policies. Meanwhile, the Department for Work and Pensions is due to produce its response to the consultation it issued in February 2010. For more information on this development please click here to read our note on this development.