Insurance

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

Legal costs in motor insurance claims rose slightly to €112 million in 2018, according to new figures from the Central Bank of Ireland. In total, there were legal costs of €112,275,745 in 2018 in relation to 4,714 claims taken through the courts.

Major reforms to insurance contracts aimed at making them fairer for consumers have been approved by the Oireachtas. The Consumer Insurance Contracts Bill 2017, introduced as a private member's bill by Sinn Féin finance spokesperson Pearse Doherty TD, is now expected to be signed into law by

New figures have "shone a statistical searchlight on the false and exaggerated claims of the Irish motor insurance industry", the Law Society of Ireland has said. The Central Bank of Ireland yesterday published figures showing that premiums increased by 42 per cent between 2009 and 2018, despite the

Average motor insurance premiums increased by 42 per cent between 2009 and 2018, despite the cost of claims per policy decreasing by 2.5 per cent over the same period, according to new Central Bank of Ireland figures. The bank's first annual Private Motor Insurance Report of the National Claims Info

Three new partners have joined BLM in Dublin in the firm's largest round of partner promotions since it established its office in the Irish capital in 2012. Sinead Connolly, Olivia Treston and Garrett Cormican span all business streams across the firm's Dublin office, which now employs over 40 peopl

Gardaí are planning a number of raids on solicitors' offices as part of a crackdown on insurance fraud, according to reports. According to The Irish Times, the Garda National Economic Crime Bureau (GNECB) is planning to lead a number of "days of action", consisting of raids on the homes of su