So, let’s get straight to the point.
Q: Is insurance hurting communities, charities, sports clubs, cultural groups and small businesses?
Q: Are things getting better?
A: No, they are getting worse and are going to accelerate if nothing meaningful is done.
Q: Has anything been done about it?
A: Well there’s been plenty of huffing and puffing but the more important question is:
Q: Has anything that has been done so far applied downward pressure on insurance premiums?
A: Absolutely not.
This is why this general election is so important for policyholders and why it is important to ask any prospective politician you meet what REAL insurance reforms they are committed to.
In particular, where do they stand on:
· Reducing unfair personal injury awards
· Rebalancing the duty of care
· Setting up and resourcing the Garda Insurance Fraud Unit
· Demanding lower insurance premiums from insurers
We will explain these reforms and other aspects of the insurance crisis in more detail in later blogs.
Many thanks, Peter