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Insurance

Insurance

Insurance Ireland facing heavy fines over claims data access

Lobby group must meet commitments that would allow new entrants to the sector to access to a key claims information database
  • Peter O'Dwyer
  • July 2, 2022
Politics

Varadkar predicts insurance premiums will fall in next 18 months

The Tánaiste said that reforms of the insurance sector would eventually filter through to consumers and businesses
  • Peter O'Dwyer
  • June 25, 2022
Insurance

Government shelves rescue fund for bailed-out insurers that could have led to costly levy

The state now plans to help shape a European proposal aimed at protecting policy holders in the event of an insurer going to the wall
  • Peter O'Dwyer
  • June 18, 2022

FBD’s post-pandemic agm tackles some thorny issues

Executives announced a dividend payout on the back of a €110 million profit, but were challenged on issues such as fallout from the business interruption claim controversy
  • Peter O'Dwyer
  • May 15, 2022

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
Insurance

O’Leary Insurance slips into red as wage bill spikes after €100m sale of firm to US broker

The country’s largest independent brokerage group, bought by Brown & Brown in 2020, grew its turnover last year but fell into the red as wages increased to €10.7m from €7.8m
  • Donal MacNamee
  • May 12, 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

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

US insurer NFP buys Resure for undisclosed sum

Acquisition continues trend of consolidation in Irish insurance market
  • Peter O'Dwyer
  • April 11, 2022

Waterford woman begins legal challenge to new personal injury award guidelines

Bridget Delaney’s action questions the legal basis of the guidelines, which have resulted in damages awarded being reduced by 40 per cent
  • Catherine Sanz
  • April 3, 2022

PIAB ratchets up fees to offset €3.5m deficit

Personal Injuries Assessment Board says cost increase for insurers will expand service and won’t affect premiums
  • Michael Brennan
  • March 28, 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

FBD defends share dividend as policyholder claims still unpaid

The company, which has been dogged by controversy over its handling of business interruption claims from businesses affected by the pandemic, said it expected the saga to cost it €44 million net of reinsurance after discussions with its reinsurers
  • Peter O'Dwyer
  • March 6, 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

FBD to further compensate publicans following commercial court ruling

Up to 1,000 businesses, including publicans who took a landmark case against the insurer, are entitled to more compensation for losses they incurred due to the pandemic
  • Peter O'Dwyer
  • January 28, 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

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