Thought Leadership

The human factor. Thoughts and observations.

The life-blood of any organisation is its people; the success of every system, in every organisation is determined by human factors. We are seeking a deep understanding of these human factors; these are some of our thoughts and observations.

KEY SUMMARY ON INSURANCE ISSUES IN IRISH BUSINESS – Worrying Claims Culture

July 4, 2019

There are 4 key variables leading to the problems with rising Insurance costs in Ireland today:

Worrying Claims Culture trend is growing in Ireland

# EL claims have increased by 29% in the last 5 years (PIAB data)
€ EL awards have increased by 8% in the last 5 years – avg. = €32,000 (PIAB data)
# PL claims have increased by 5% in the last 5 years (PIAB data)
€ PL awards have increased by 12% in the last 5 years – avg. = €28,500 (PIAB data)
82% of Irish people agree there is a ‘Compensation Culture’ in this country (PIAB survey)
62% of Irish people agree that a ‘Reform is Needed’ (PIAB Survey)

KEY CORRECTIVE: People must take responsibility and ownership for their behaviour and understand that making bogus claims adds to a chronic problem that is putting local businesses out of business!