Irish Small & Medium Enterprises Association: CCPC Investigation Into Insurance Industry
ISME is delighted to see the intervention by Minister
The
We must voice our concern at the reporting of this story on the same day as Minister Flanagan is reported as '(going) to war with leading insurers.' The Government has gone to considerable length, at taxpayers' expense, to analyse the underlying issues behind high insurance costs in
This work over the last thee years has produced the Report on the Cost of
The Government's own reports produced voluminous recommendations, of which the meaningful ones appear to have been ignored,abandoned, or long-fingered:
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* The Senate Bill to cap general damages has been referred to the
* The claim-by-claim database, which would give transparency to all underwriters competing in the marketplace, has been abandoned for reasons that do not stack up.
Focusing on insurers alone will not reduce the cost of insurance here. Underwriters continue to withdraw from the Irish market, suggesting
* Reduced quantum for minor injuries.
* Tackling exaggerated and fraudulent claims.
* Reform of the duty of care under the Occupiers' Liability Act 1995.
* Reform of the rules of court to ensure equality in arms for defendants, and that costs follow the event. 5.Reduction in legal costs.
* Comprehensive reform of the Defamation Act.
* Successful enactment, and vigorous enforcement, of a Perjury Act.
We ask the Minister to ensure that the CCPC's investigation includes commercial motor, public and employer liability insurance. Similarly, we ask the Minister to endorse our request to DG COMP in
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- ISME is delighted to see the intervention by Minister
- An ISME member is one of the victims of a significant overcharging scandal
- The Government has gone to considerable length, at taxpayers' expense, to analyse the underlying issues behind high insurance costs in
- ISME ask the Minister to ensure that the CCPC's investigation includes commercial motor, public and employer liability insurance
- Meanwhile, underwriters continue to withdraw from the Irish market
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