Insurers cry wolf to cover their tracks
The hysteria over employer's liability (EL) rates and cover seem to have dominated insurance headlin...
The hysteria over employer's liability (EL) rates and cover seem to have dominated insurance headlines since late 2001. It started when there was a shortage of capacity in the market following 9/11 and continued as the Enron accounting scandal and the dot-com crash in 2002 caused the huge fall in the price of equities. This led to a shortage of capital and worldwide insurance market capacity. For the first time ever, the demand for insurance exceeded supply.
Those insurers with capacity reserved
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