“In recent years the only thing increasing faster than public liability premiums has been insurer profits, and today’s report shows that this was happening against a backdrop of significantly reducing public liability claims across whole sectors of our economy. It is unconscionable really.”
Speaking today on the publication by the Injuries Resolution Board of its report on “Public Liability Accidents”, the chair of the Alliance for Insurance Reform and CEO of the Convenience Stores and Newsagents Association (CSNA), Vincent Jennings said: “In recent years the only thing increasing faster than public liability premiums has been insurer profits, and today’s report shows that this was happening against a backdrop of significantly reducing public liability claims across whole sectors of our economy. It is unconscionable really.”
Some of the report’s key findings include:
· 1. Regarding personal injuries sustained by visitors to businesses and public spaces between 2019-2023, there has been a 40% reduction in claim volumes during this period.
· 2. The total value of annual awards in 2023 is almost €20 million less at 33.2 million, a reduction of 37% in just 5 years.
· 3. Claims in cafés, hotels, and restaurants more than halved between 2019 and 2023 (-52%). Shops and stores saw a 44% decrease, and sports and athletic areas experienced a 38% reduction.
· 4. There has been a very low volume of claims for accidents in childcare settings, a sector that has historically reported high insurance costs, with just 256 personal injury claims identified over five years, compared to nearly 170,000 children enrolled in 2020/2021.
Mr Jennings continued: “For years the message from insurers was that premiums track the volume of claims and the cost of settling them. Today’s report from the Injuries Resolution Board belies that narrative and we need the next government to step up and address this fundamental unfairness. Businesses, sports, community and voluntary groups are currently facing crippling costs of doing business and the Injuries Board data highlighting falling claim volumes and award sizes tells us public liability insurance shouldn’t be another one of these costs.”
The Alliance for Insurance Reform brings together 46 civic and business organisations from across Ireland, representing over 55,000 members, including the Federation of Irish Sport, 700,000 employees, 614,000 volunteers and 374,000 students in highlighting the negative impact of persistently high premiums and calling for real reforms that will quickly reduce liability and motor insurance premiums to affordable levels and keep them that way.