IoD expresses business insurance claim concerns
Private businesses could spark an overwhelming rise in the
number of business insurances claims as they struggle to deal with
ever-expanding employment laws and regulations, a leading business
representative has warned.
Alistair Tebbit, spokesman for the Institute of Directors (IoD)
spoke earlier this week on the steady growth of employment
regulations and the knock-on effects they will have on business. He
said that more and more companies could find themselves resorting
to their insurance to cope with rising tides of claims and disputes
rising from disgruntled employees.
He acknowledged that the increase in legislation began before
the life of the current government, but that the
Conservative-Liberal Democrat coalition had been adding to it since
their election and could end up just as responsible for the
effects.
"There is a range of proposals that the government has got on
the table at the moment which will add to red tape," he warned.
"The reason I mention employment law is because it affects all
businesses. It's not just a narrow issue that pertains to
particular sector; it affects all businesses, because all
businesses, pretty much, employ people."
New proposals for additional workplace legislation include new
rules on flexible working entitlement and scrapping a default age
of retirement.