The Association of British Insurers is urging the government to put a priority on engagement with commercial insurers to boost economic growth across the country. It has published a report, The Value of Commercial Insurance: Enabling growth, innovation, and resilience, detailing how carriers can help drive growth, innovation and resilience throughout the UK.

The report details examples of how insurers have enabled infrastructure projects, helped firms recover from unexpected and major losses and made themselves more resilient to future loss events.

The report sets out ways in which the government and regulators could make it easier for commercial insurers to play a bigger role in using their expertise to support economic activity. These range from creating a proportionate and internationally competitive regulatory environment to engaging with the industry earlier in major infrastructure projects.

Chris Bose, director of general insurance at the ABI, said: “From helping businesses recover from disruption, to supporting tech innovation and enabling major infrastructure, the UK is home to one of the world’s leading commercial insurance markets. As the new government looks to drive growth and embed resilience across the country, there’s a real opportunity to make greater use of the expertise our sector has to offer.”