Huge leaps in property insurance premiums may be a thing of the past, members of the Food and Drink Federation have been told at a seminar attended by insurance companies. FDF members have faced hikes ranging from 30% to 90% over the past year.
The recent increases had put premiums at levels acceptable to insurers, so the possibility of further increases of the same magnitude was less likely, the seminar heard.
However, employers' liability insurance was likely to face problematical rises because of insurer concerns over compensation payments for sufferers of asbestosis.
FDF insurance specialist Tom Evans said the meeting threw up the need for suppliers to manage risk sensibly, making use of any available guidelines, particularly on health and safety, to communicate with insurers, and develop long-term relationships with them.
The FDF plans to circulate advice from industry body Airmic on fire insurance and risk. It is also exploring initiatives to help smaller members.

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