§ Brian CotterTo ask the Secretary of State for Work and Pensions what assessment he has made of whether trade mark schemes can help to reduce the cost of employers' liability compulsory insurance. [172468]
§ Jane KennedyThe Department is aware of a range of trade mark schemes that are designed to help to reduce the cost of employers' liability compulsory insurance. These include the Association of British Insurers'738W (ABI's) initiative 'Making the Market Work'. I refer the hon. Member to the answer given to him on 23 March 2004, Official Report, column 740W.
The National Federation of Roofing Contractors (NFRC) has set up with the Electrical Contractors' Insurance Company their own insurance via a captive cell fund exclusively for NFRC members to offer insurance roughly 10 per cent. below current market rates and with longer notice periods and more certainty of gaining cover.
As with the evaluation of the 'Making the Market Work' initiative by the ABI, if the NFRC undertakes an evaluation of the scheme the Government will take a close interest in the outcome.