In January 2018, the CSO was tasked by the Cost of Insurance Working Group (CIWG) to consider the feasibility of collecting price information on the cost of insurance to businesses, specifically employers’ liability and public liability.
In January 2019, the CSO published its Report on the Feasibility of Collecting Price Information on the Cost of Insurance to Businesses. That report recommended that a pilot project be initiated to examine a technology solution that involved automating the submission of premium quotation requests to the online pricing portals of the insurance companies.
The CSO published the results of the pilot project in the report: Results of the Pilot Project on the Development of Price Index for Business Insurance. While the pilot project made progress from a technical perspective, the CSO has concluded that the project will not ultimately meet the data needs originally identified by the CIWG.