A new report from the Injuries Resolution Board reveals a 40 percent decrease in public liability claims in Ireland between 2019 and 2023. However, critics argue that insurance premiums continue to soar, benefiting insurance companies at the expense of consumers and businesses.
Public liability claims in Ireland have significantly decreased by 40 percent between 2019 and 2023, according to a report released by the Injuries Resolution Board (IRB). This decline coincides with the introduction of new anti-fraud measures and lower compensation awards for injuries in 2021. The IRB analyzed 30,000 claims during this period and found that accidental falls accounted for the majority of cases, with roads and footpaths being the most common locations.
While the report highlights a positive trend in reducing claims, critics argue that insurance premiums continue to rise, raising concerns about the distribution of savings. Vincent Jennings, chairperson of the Alliance for Insurance Reform, stated that insurer profits have been increasing at a faster rate than public liability premiums, suggesting an imbalance. He emphasized the need for the next government to address this unfairness, as businesses, sports organizations, and community groups are facing substantial costs due to high insurance premiums. Jennings believes that with the decrease in claim volumes and award sizes, public liability insurance should not be an added financial burden. The report also revealed that assault claims increased by 10 percent in 2022 compared to 2021, primarily occurring in cafes, bars, and restaurants. These claims often allege a failure by management to provide adequate security for patrons.Insurance Ireland chief Moyagh Murdock welcomed the report, while Sinn Fein’s finance spokesperson Pearse Doherty TD criticized the government for prioritizing insurance company profits over consumer protection. Doherty vowed to push for legislation that would hold insurance companies accountable for passing on the savings resulting from reduced claims to their customers. He argued that the government has allowed reforms to benefit insurance companies instead of delivering lower premium payments for the public. This situation, he contends, adds further pressure to struggling businesses and exacerbates the cost-of-living crisis
PUBLIC LIABILITY INSURANCE CLAIMS IRELAND REPORT PREMIUMS SAVINGS GOVERNMENT CRITICISM COST OF LIVING
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