In a landmark judgment, the High Court has ruled in favour of four pub owners who claimed that FBD Insurance was required to cover their losses for the enforced closure of business during the coronavirus pandemic. Giving the judgment, Mr Justice Denis McDonald said that the proper interpretation of
Thousands of UK businesses will receive payouts for coronavirus-related business interruption losses after the UK Supreme Court sided with the Financial Conduct Authority (FCA) in a landmark test case. The complex 112-page judgment augurs poorly for Irish insurers in a similar test case in the Irish
The replacement of the Book of Quantum with personal injury guidelines, an enhanced role for the Personal Injuries Assessment Board (PIAB) and the creation of a statutory offence of perjury are among the 66 actions set out in the government's first action plan for insurance reform. The action plan,
The High Court has ruled that the Motor Insurance Bureau of Ireland (MIBI), which compensates victims of uninsured driving, will not be liable for any judgment against an uninsured driver who injured one of his passengers by crashing his car into a ditch. Mr Justice Bernard Barton found that the pla
A judicial review launched on behalf of a child who was injured in a hit-and-run is challenging the standard practice of parents or guardians signing off on compensation settlements. Solicitor Ciaran O'Hare of McIvor Farrell is acting on behalf of a child who suffered a head injury at 10 weeks old a
The average legal costs in personal injury cases settled through litigation was over €23,000 between 2015 and 2019, according to new figures published by the Central Bank of Ireland. The figures are revealed in the second annual private motor insurance report of the National Claims Information
There is "no evidence" that capping personal injury pay-outs will lead to lower insurance premiums, the Law Society of Ireland has said. The Law Reform Commission yesterday identified two “constitutionally permissible” models for capping personal injury pay-outs in Ireland.
Some of the biggest motor insurance companies in Ireland have engaged in anti-competitive cooperation, the competition watchdog has alleged in preliminary findings. The Competition and Consumer Protection Commission (CCPC) today issued preliminary findings to AIG Europe S.A., Allianz PLC, AXA Insura
Judgment in a business interruption insurance case that featured 15 Queen's Counsel and 20 junior counsel has been handed down by the High Court. The court found in favour of the arguments advanced for policyholders by the Financial Conduct Authority on the majority of the key issues.
Legislation providing for a major shake-up of insurance laws has partly come into force today, but key provisions will not be commenced until at least a year from now. The Consumer Insurance Contracts Bill 2017, introduced as a private member’s bill by Sinn Féin finance spokesperson Pea
Insurance companies should pay plaintiffs' legal costs in test cases concerning COVID-19 claims on business interruption insurance policies, the Central Bank of Ireland has said. The Central Bank has published its COVID-19 and business interruption insurance supervisory framework, which aims to seek
Ronan Daly Jermyn partner Brian Hunt and solicitor Michael Quinlan take a look at the ambitious plans for legislative reforms in the insurance sector. Fuelled by cycle of rising and falling insurance premiums, the high level of personal injury awards, and a series of high-profile successes against f
FBD Insurance has applied for a stay on any further legal proceedings brought by publicans over business interruption payouts until the first cases have been decided. The major insurer is facing legal action from up to 1,000 publicans over its decision not to pay out on business interruption cover f
Employers' and public liability insurance data will be included in the National Claims Information Database (NCID), the Central Bank of Ireland has announced. The move comes five months after the Central Bank published the NCID's first annual report on private motor insurance, which provided detaile
Arthur Cox advised Ireland's major insurance firms that premium reliefs for motor insurance customers were allowed under competition law, according to reports. Members of the Insurance Ireland umbrella group, including Allianz, Axa, FBD, RSA and Zurich, last week announced reliefs in response to the