The cost of corporate insurance is rocketing and this is hitting company profits. The recession and the associated increases in claims and fraud are being blamed, and the situation is only likely to get worse, according to Sharon McErlean, a solicitor in the Insurance Department of DLA Piper in Birmingham.       

Now a free seminar for businesses, Insurance After The Recession, is being held at law firm DLA Piper's Birmingham office, Victoria Square House, on Monday, June 7.

In addition to Ms McErlean, the panel will include insurance specialists Daniel Crowley, (a leading insurance barrister), Richard Waltier, Birmingham Head of Willis Insurance Brokers and representatives of important DLA Piper corporate clients, Vince Coyle, Group Safety, Health & Environmental Manager, of Barratt Developments; and Shelley Jewell, Senior Claims Manager of Sodexo.

Ms McErlean said: "The business environment has changed radically following the recession.

As the claims filter through, the insurance market is already beginning to harden. 

"As it does, insurance is becoming more expensive, policy terms and the range of cover available are becoming more restrictive, and insurers are increasingly taking a harder line on claims."

Areas being looked at include characteristics of insurance contracts, issues that arise when businesses claim under their insurance policy, the current proposals to reform insurance law and what's in it for businesses.