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Insurance

Insurers pay businesses €170m for claims related to Covid-19

Almost 5,500 policyholders have now been compensated, according to junior finance minister, but several cases remain before the courts
  • Peter O'Dwyer
  • May 15, 2022

Insurers sound alarm over claimants rejecting PIAB injury awards and going to court instead

Low take-up of PIAB settlement awards presents ‘significant uncertainties’ to personal injury guidelines intended to reduce amount paid out to claimants
  • Donal MacNamee
  • May 4, 2022

Simply Better
Back to School

Delicious recipes by Neven Maguire

Two in five organisations say insurance is threatening their future

Almost one in three said the costs are impacting their ability to grow their businesses
  • Ellie Donnelly
  • April 21, 2022

FBD pays out €2.5m in share awards and share options to top executives

The insurance firm has been embroiled in controversy over the past two years regarding its handling of Covid-19 business interruption claims
  • Eva Short
  • April 11, 2022

Quote Devil acquired by Three Rock Group

The group said the move would allow it to elevate its position in the Irish insurance market
  • Eva Short
  • April 6, 2022

Business insurance market will become more competitive, industry chief says

Pressure is on courts to follow Personal Injuries Assessment Board and ‘slash’ awards, which will encourage market entrants, according to broker
  • Ellie Donnelly
  • March 27, 2022

Central Bank told finance officials that insurers may have had to deduct value of Covid state supports

Reinsurance cover could be void if controversial costs had not been deducted, according to documents issued to the government by the regulator last year
  • Peter O'Dwyer
  • March 13, 2022

New bill may push more legal costs on those who take insurers to court

Robert Troy: ‘If someone wants to reject their award and bring it to court and the court doesn’t increase the award any further, well then, they're going to have to pay for that’
  • Michael Brennan
  • February 6, 2022

FBD braced for further costs after legal verdict on pub cases

The insurer faces having to pay compensation for losses incurred by publicans who mounted a test case after their hostelries were shuttered by the pandemic
  • Peter O'Dwyer
  • January 30, 2022

Donohoe warns insurers could reduce investment if taxed over state supports

The government intends to pass legislation to gather data on how much money has been retained by insurers but not to recoup it
  • Peter O'Dwyer
  • January 24, 2022

Powers of deduction: Why insurers are under fire over cuts to payouts

Many insurance companies have been deducting the value of pandemic government supports provided to policyholders from awards, but strenuous opposition to the practice is growing
  • Peter O'Dwyer
  • January 23, 2022

Data on insurers’ payout deductions won’t be published this year

Government has come under renewed pressure to recoup millions of euro deducted by insurance firms from Covid-19 compensation
  • Peter O'Dwyer
  • January 16, 2022

Fleming to examine if British insurers’ pledge can be replicated in Ireland

Junior minister has contacted UK counterpart to learn if commitment given by insurers not to strip value of pandemic-related state supports from awards can be applied here
  • Peter O'Dwyer
  • January 12, 2022

Insurers asked to repay state money they deducted from awards to pandemic-hit firms

Junior minister ‘hopes’ insurers give the money back but admitted the government has no means of enforcing that request
  • Peter O'Dwyer
  • January 10, 2022

Taxpayers lose as insurers keep millions in state funds cut from Covid payouts

Government abandons promise to pursue firms for the value of any deductions made
  • Peter O'Dwyer
  • January 9, 2022

Ian Guider: Insurers are not the only culprits for sky-high costs

If the state is serious about bringing down the cost of business, and of insurance premiums, it must push for the antiquated, opaque and grossly uncompetitive legal sector to reform
  • Ian Guider
  • January 9, 2022

‘Fabric of society’ won’t recover from Covid unless high insurance costs addressed

Alliance for Insurance Reform tells Oireachtas committee new bill to reform insurance only ‘tweaks’ existing arrangements and that reforms are happening too slowly
  • Donal MacNamee
  • December 16, 2021

FBD has paid out €28m in Covid business interruption claims

Insurer has estimated total cost of business interruption claims could come to €183m
  • Donal MacNamee
  • December 14, 2021

Drop of 7% in motor insurance costs pales next to €163m profits in sector

Thanks to premium rises of 62 per cent in previous years, insurers are still sitting pretty with 12 per cent profit margins
  • Peter O'Dwyer
  • November 21, 2021

Pandemic factors result in drop in cost of motor insurance

New data published by the Central Bank of Ireland shows motor insurance premiums dropped by 7 per cent on average from 2019 to 2020
  • Emmet Ryan
  • November 16, 2021

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