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3 Jun 2008 10:23AMRate this!
Derek Chandler
Member - 12 posts
"Policies not worth the paper they were printed on" ! "Insurers keeping the premiums that they had been paid" ? When one finds these old original policies one can see that the premium paid for EL policies in the 50//60's were just hundreds of pounds and on one recent small company EL policy slip..... £35 for unlimited liabiity!
In reality, in those early days, the "general" EL insurers had no vision that they would end up picking up the tab and reserving for long tail asbestos exposures at these current levels of compensation.
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