Here are a few reasons why…
• Overly competitive pricing in the past has driven premiums to levels falling short of claim costs
• Increased court settlements. High Court up 34%. Circuit Court 14%
• More legal challenges to the Injuries Board award process
• Heightened expectations on the part of claimants encouraged by legal profession
• Inconsistency in court awards
• Capital strengthening requirements imposed by Central Bank
• Repayment by insurers of Social Welfare Payments and Hospital Medical costs
• Lower investment returns
• Higher incidents of accidents/claims
• Increased cost of regulation
Keep the faith folks – we’re honestly trying!
Always remember – call us to discuss any/every incident. We will advise and guide you.
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