Guy Carpenter & Company Ltd. reported the release of a new report, A Year in Review – 2005 Update: Issues and Trends Affecting the Liability Market in England and Wales. The in-depth review is conducted annually to help put key changes and developments in the liability market into context.
“A number of trends that we first reported on in 2004 continue to have significant market impact in 2005,” said Carolyn Morley, managing director. “Liability claims and costs remain on the rise, and we saw an increase in mediation activity and a decrease in litigation. The most notable new trend was the remarkable growth in regulatory intervention, as major regulatory reforms aimed at the actuarial, legal, medical and surveying professions appear to be on the horizon.”
Morley also noted that 2005 may prove to be a watershed year for group litigation. “Despite a challenging year in 2005, group litigation orders may very well be the trend to watch. The Railtrack case could become a beacon for future group action, especially with other high profile claims, such as Merck’s Vioxx, waiting in the wings.”
Guy Carpenter’s 2005 liability market update covers key issues, court decisions and recent developments across a wide range of topics, including directors and officers liability; errors and omissions; environmental liability; employers’ liability, employment practices liability and public liability; alternative dispute resolution; legal costs; procedural developments; group litigation; education claims and product liability.
The report is available for download at www.guycarp.com. Printed copies can be obtained by contacting Guy Carpenter at firstname.lastname@example.org.
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