Snapshots of Insurance Reform in Ireland

  1. Volume of claims down 41% since 2019 (PIAB, 2022)
  2. Size of awards reducing since introduction of Judicial Guidelines in 2021
  3. Introduction of Garda Insurance Fraud office in 2021
  4. Reforms of the Injuries Resolution Board to attract and retain more cases (2023)
  5. Duty of Care reform July 2023, reducing volume of future claims

Current Data on Liability Insurance

  1. Insurer profits increased 55% in 12 months (Central Bank Report, 2022 – published last week)
  2. Premium increases still occurring – 2022 Central Bank Report showed an average 8% premium increase that year, in the face of reduced volume of claims and awards, and significant rise in insurer profits.
  3. Recent Alliance and member body surveys show premiums continuing to increase in 2023 and 2024.

Key Asks

  1. Reduced Premiums

Reduced premiums for public and employer liability policy holders that is meaningful and sustained; reflecting the considerable savings generated by insurance reform in recent years.

  1. Competition

Increased competition across all sectors, with particular emphasis on public liability cover.

  1. Sectors That Cannot Get Cover

Urgent delivery of an effective Governmental and market response addressing sectors and organisations that cannot get affordable cover, including for those limited to one underwriter at present.

Thank You For Supporting The Work Of The Alliance

Calling for more affordable insurance cover for all who need it. Insurance affects everybody and you can helped telling people it matters by signing our petition.

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