The Association of British Insurers is to host a conference next month to address the shortage of cover available to firms in high-risk industries.
The aim of the conference is to highlight the problems faced by industries that are unable to obtain affordable cover.

The conference, which is backed by the Association of British Insurers and the British Insurance Brokers Association, will be open to all trade associations, but targeted especially at high-risk sectors such as construction, quarrying and mining.

John Parker, head of general insurance at ABI, said the conference would enable the trades to discuss their problems with insurance brokers.

He said: “We’re also continuing to promote a wider debate with government and others on the case for radical reform of legislation.”

Building revealed last week that construction firms were facing soaring premiums as a result of the changing insurance market and the events of 11 September. Many small and medium-sized contractors are facing premium increases of up to 500%, and some consultants’ professional indemnity insurance has trebled.

Other reasons given for the insurance hikes include the blame culture in the construction industry, and that fact that contractors have being underpaying premiums for years.