The British Insurance Brokers’ Association (BIBA) has responded with support to the FSA consultation paper for the new Employers’ Liability Centralised Database, operated by the Employers Liability Tracing Office (ELTO).
The new proposals, set out in the consultation, which closed on the 14 September, are designed to help employees trace old insurance records more easily if they suffer from injury or disease caused at work and cannot trace a former employers policy, where the employer has ceased trading or is untraceable.
Peter Staddon, BIBA Head of Technical Services, said: “BIBA strongly believes the best result for consumer protection would be to have one single tracing office run by the insurance industry”.
BIBA expects insurance brokers to have to change their current practices in order to comply with the new requirements. It depends on the final new regulations, but BIBA anticipates that insurance brokers will have to source their customer’s Employer Reference Number at point of sale.
Peter concludes: “We believe that supplying the ERN will create a system that makes it much easier and more successful when tracing Employers’ Liability Insurance (ELI) records, which is vitally important at a time when people are suffering from a disease”.
The full BIBA response to the FSA can be viewed here
Source : BIBA Press Release
