The recommendations come on foot of a lengthy study into the market for public liability insurance, which found a lack of independent, public data on the insurance market as well as a lack of open access to claims history information. Read More"Our market study found that high percentage premium increases for public liability insurance are an issue across all sectors of the economy," she said. Massive price-hikes and limited availability of public liability insurance is a huge concern among businesses, sports organisations and voluntary groups, leading many to forego coverage or be forced to close. It also comes amid increasing attention on the insurance sector following the recent publication of the national Action Plan for Insurance Reform, which sets out 66 recommendations of its own. The Commission was looking into whether restricted access to Insurance Ireland’s Insurance Link database was harming motor insurance competition in violation of European Union rules.

Source: Irish Independent December 22, 2020 23:48 UTC