Business insurance records retention?

Mistral001

Savvy_Sue wrote: »

We certainly have kept our EL certificates at work, longer than we keep our financial records.

I wasn't aware of ELTO at all, but then we've been with the same broker for a number of years so they wouldn't have needed to ask for details of previous insurers!

Are previous insurers responsible for claims which are first notified after you have moved to another insurer? I know my PII does not work like that as far as I know. They are interested in previous claims on insurers or previous claims on your business of any kind even if you did not have insurance and had to pay the whole yourself or notified your insurer and paid out without making a claim on your insurance.

phill99

EL used to be 40 years! This was mainly because of the latent nature of some industrial diseases. However this was amended in 2008. Have a look here.


http://www.cherrypickedinsurance.com/news/did-you-know/employers-liability-changes-to-the-regulatory-framework

Savvy_Sue

Mistral001 wrote: »

Are previous insurers responsible for claims which are first notified after you have moved to another insurer? I know my PII does not work like that as far as I know. They are interested in previous claims on insurers or previous claims on your business of any kind even if you did not have insurance and had to pay the whole yourself or notified your insurer and paid out without making a claim on your insurance.

I don't know. It may be that you'd claim on your current insurance, but would need to establish that you did actually have insurance throughout, ie at the time when the cause of the claim kicked off IYSWIM.

We're getting quite technical here, would the OP like this moved to the insurance board? I appreciate some people here have expertise in insurance, but there may be more of them over there ...