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Covid-19 disruption highlights importance of having insurance
Pandemic shows need for cover in variety of sectors and industries
Thu, Apr 1, 2021, 00:00
Updated: Thu, Apr 1, 2021, 09:15 Mimi Murray Brought to you by The Irish Times Content Studio
The Covid-19 pandemic has taken its toll on new insurance premiums on certain lines of business, such as travel, events and life insurance.
The Covid-19 pandemic has taken its toll on new insurance premiums on certain lines of business, such as travel, events and life insurance. Losses as a result of lockdowns are estimated to be
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Business Editor
A full meeting of the Judicial Council has concluded without any decision being taken on draft new personal injury award guidelines.
The issue was discussed at this morning s meeting of the 166 judges.
The council is to give further consideration to the matter again when it meets on 20 February.
It has not said why a decision was not made today.
However, it is understood some members of the judiciary felt they needed more time to consider the proposals.
The guidelines are eagerly anticipated by insurance reform campaigners who hope that, if adopted, will lead to a recalibration in the level of damages that can be awarded to claimants involved in personal injury cases.
Business Editor
Public liability insurance premiums have increased by 15-20% on average over the past three years, new research by the Competition and Consumer Protection Commission (CCPC) has found.
Their market study also found that the reasons for the increases were not always clear and 70% of respondents said they did not think that the price rises were fair or justified.
The report also established that availability issues are primarily impacting certain sectors, such as community and sports groups.
A lack of independent public data as well as an absence of open access to claims history information may be acting as barriers to market entry and creating problems for policy makers trying to improve it, it also discovered.