Insurance, uncovered: Firms warn of 'existential threat'

Insurance, uncovered: Firms warn of 'existential threat'

Insurers blame high costs on fraudulent claims and the judicial system. Will the new Judicial Council Bill be able to cap insurance costs and stem the tide of endangered businesses?

Maria Bailey’s personal injuries action against the Dean Hotel swung the spotlight onto the difficulties that hospitality venues face with compensation cases.

Since then, the government has experienced relentless pressure over soaring insurance costs, alleged profiteering by insurance companies and the large payouts approved by the courts.

Michael D’Arcy, Minister of State at the Department of Finance, has threatened to levy new fines on insurers whose accounts show they are making tens of millions...

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