Insurance Insurance Ireland facing heavy fines over claims data accessLobby group must meet commitments that would allow new entrants to the sector to access to a key claims information database
Politics Varadkar predicts insurance premiums will fall in next 18 monthsThe Tánaiste said that reforms of the insurance sector would eventually filter through to consumers and businesses
Insurance Government shelves rescue fund for bailed-out insurers that could have led to costly levyThe state now plans to help shape a European proposal aimed at protecting policy holders in the event of an insurer going to the wall
FBD’s post-pandemic agm tackles some thorny issuesExecutives 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
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
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
Insurers sound alarm over claimants rejecting PIAB injury awards and going to court insteadLow take-up of PIAB settlement awards presents ‘significant uncertainties’ to personal injury guidelines intended to reduce amount paid out to claimants
Two in five organisations say insurance is threatening their futureAlmost one in three said the costs are impacting their ability to grow their businesses
US insurer NFP buys Resure for undisclosed sumAcquisition continues trend of consolidation in Irish insurance market
Waterford woman begins legal challenge to new personal injury award guidelinesBridget Delaney’s action questions the legal basis of the guidelines, which have resulted in damages awarded being reduced by 40 per cent
PIAB ratchets up fees to offset €3.5m deficitPersonal Injuries Assessment Board says cost increase for insurers will expand service and won’t affect premiums
Business insurance market will become more competitive, industry chief saysPressure is on courts to follow Personal Injuries Assessment Board and ‘slash’ awards, which will encourage market entrants, according to broker
Central Bank told finance officials that insurers may have had to deduct value of Covid state supportsReinsurance cover could be void if controversial costs had not been deducted, according to documents issued to the government by the regulator last year
FBD defends share dividend as policyholder claims still unpaidThe 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
New bill may push more legal costs on those who take insurers to courtRobert 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’
FBD braced for further costs after legal verdict on pub casesThe insurer faces having to pay compensation for losses incurred by publicans who mounted a test case after their hostelries were shuttered by the pandemic
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
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
Powers of deduction: Why insurers are under fire over cuts to payoutsMany insurance companies have been deducting the value of pandemic government supports provided to policyholders from awards, but strenuous opposition to the practice is growing
Data on insurers’ payout deductions won’t be published this yearGovernment has come under renewed pressure to recoup millions of euro deducted by insurance firms from Covid-19 compensation