Business insurance premiums jumped 24% in the space of six years thejournal.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thejournal.ie Daily Mail and Mail on Sunday newspapers.
According to the regulator, 57 per cent of employer liability claims were settled by litigation. Picture: Getty
The cost of liability insurance premium packages increased by 24 per cent between 2013 and 2019, according to new research from the Central Bank of Ireland.
The figures are included in the first employers’ liability, public liability and commercial property insurance report of the National Claims Information Database (NCID) to be published by the financial regulator.
Liability insurance spans a broad range of business sectors, each of which covers a variety of risks. The Central Bank noted.
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Insurance report shows wide disparity in legal costs rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.
Insurance report going to Cabinet today notes average pay out has decreased by approximately 50%
A progress report on how government is tackling rising insurance costs will go to Cabinet today. By Christina Finn Tuesday 6 Jul 2021, 6:15 AM 16 hours ago 13,134 Views 30 Comments
Image: Shutterstock/Andrey Popov
Image: Shutterstock/Andrey Popov
A PROGRESS REPORT on insurance reform will be brought to Cabinet today by Tánaiste Leo Varadkar which notes that preliminary data from the Personal Injuries Assessment Board (PIAB) indicates that the average award paid out has decreased by around 50%.
The implementation report of the Action Plan for Insurance Reform seeks to make Ireland’s insurance sector more competitive and consumer-friendly.
Average personal injury award halved under new guidelines farmersjournal.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from farmersjournal.ie Daily Mail and Mail on Sunday newspapers.