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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