INSURANCE firms stand to lose about $2 billion in premiums if the Government sets up a centralised employment insurance compensation fund, says David Cosgrove, deputy chief executive of Carlingford Insurance Group. . Plans by the Government to lift maximum accident payouts, which would mean premiums rising by about 40 per cent next year, have renewed calls for a nationalised system of accident insurance. Mr Cosgrove said insurers were against any move to nationalisation. ''Private enterprises are able to administer better; they are more competitive and when you are fighting for a place in the business world, you do the job more efficiently,'' he said. He cited the example of the failed Australian nationalised compensation system. The gazetted Employees' Compensation (Amendment) Bill proposes pushing up maximum levels of compensation by as much as 132 per cent, to $1.44 million for total disability and $1.26 million for death. The current maximums are $620,000 and $540,000.