Corporate Manslaughter fines predicted

Expert warns of hefty fines for CMA breaches

Hiscox
Hiscox

Companies found guilty of corporate manslaughter under the new Act could face fines as high as ten per cent of their turnover, delegates heard at today's C&IT Agency Forum.

Insurance expert Hiscox's events team sales manager, Ed Pugh, told agencies that company predictions suggest fines "could be very painful".

Speaking at the C&IT Agency Forum this morning, Pugh warned delegates that corporate manslaughter investigations would be rigorous. "There's a mountain of law descending on companies who break the Act," he said.

During the session, Pugh also disclosed that he has seen a rise in small businesses interested in buying management-liability insurance in response to the Act. "Anecdotally, we've had more and more people phone us up," he said.

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