Claims Crisis - Major Insurer pulls out saying claims culture and awards a joke

Sweet.Science

markodaly wrote: »

Have you ever been to court? Do you know how much it costs to bring a case to the circuit court?

Because if you did, you wouldn't be saying the above.

Hence why some claims are bought off. Pay 10k now . Or let it drag on for years with the chance you may have to pay out 50k . Even if you are successful your costs will still be around the original 10k that would have bought the claim off

Crazy system

Boggles

markodaly wrote: »

Have you ever been to court? Do you know how much it costs to bring a case to the circuit court?

Because if you did, you wouldn't be saying the above.

Break down the 20k so.

Go.

markodaly

Boggles wrote: »

Break down the 20k so.

Go.

The way you carry yourself on this forum with your constant passive-aggressiveness will win you no arguments or debates.

markodaly

Sweet.Science wrote: »

Hence why some claims are bought off. Pay 10k now . Or let it drag on for years with the chance you may have to pay out 50k . Even if you are successful your costs will still be around the original 10k that would have bought the claim off

Crazy system

Many of the issues in the country can be attributed to the legal system and the way its set up to extract as much money as possible from the Irish 'system'.

Things like Direct Provision, the revolving door of people being convicted of dozens of crimes, the insurance and claims industry, all point to a legal system that is taking the country for a ride.

It's not surprising that its one of the few sectors that have not been reformed in decades as the EU has very little say on how a country organises its legal system.

Alan Shatter tried to introduce some reforms but he got shown the door.

Boggles

markodaly wrote: »

The way you carry yourself on this forum with your constant passive-aggressiveness will win you no arguments or debates.

Like procrastination?

If you don't want to answer the question, just say you don't want, no need to be so passive aggressive about it.

markodaly

Boggles wrote: »

Like procrastination?

If you don't want to answer the question, just say you don't want, no need to be so passive aggressive about it.

Why would I bother, even if I do spend time breaking it down for you, id get s a snarky one-liner back.

You are a time sink, that's all.

Go beat a bag of coal or something.

Jurgen The German

Boggles wrote: »

So basically the insurance industry fúcked the market through bad management and gambling.

Partly, yes, that's never been up for debate however you and others seem wholly incapable of seeing anything else as being a problem and are laying the blame solely at the feet of insurers.

Jurgen The German

markodaly wrote: »

Why would I bother, even if I do spend time breaking it down for you, id get s a snarky one-liner back.

You are a time sink, that's all.

Go beat a bag of coal or something.

Poor oul Boggles is a flat earther when it comes to insurers. There are countless reasons and details in the public domain about the industry and its current problems but he cannot absorb any of it, I'm beginning to think his wife ran away with an insurance sales man or something.

Boggles

Jurgen The German wrote: »

Partly, yes, that's never been up for debate however you and others seem wholly incapable of seeing anything else as being a problem and are laying the blame solely at the feet of insurers.

I'm not.

But the Insurance Industry is blaming everyone else bar the main reason for rising premiums (themselves).

It's not really sophisticated or new, it's plain old misdirection, point the fingers all over the place while you rapidly rise premiums by 70%+.

Do you know what isn't up 70%?

The number of personal injury cases taken in the State was down slightly last year while the average award made at High Court level dropped by 29 per cent, according to figures in the latest annual report from the Courts Service.

PIAB awards down in value for third consecutive year....This is the third consecutive year that claim values have fallen, from €315.13 million in 2016, to €315.04 million in 2017, and €298.55 million last year

Am I any warmer in that you always wear your tinfoil hat boggles?

Hope its not too much a personal question

Boggles

Deleted User wrote: »

Am I any warmer in that you always wear your tinfoil hat boggles?

Hope its not too much a personal question

Do you struggle with basic maths?

Too personal?

meeeeh

Boggles wrote: »

Do you struggle with basic maths?

Too personal?

This thread was of high quality and interesting until you showed up.

And btw you forgot the numbers for district and circuit court. Also high court dmnumbers include medical negligence claims.

Jurgen The German

Boggles wrote: »

I'm not.

But the Insurance Industry is blaming everyone else bar the main reason for rising premiums (themselves).

It's not really sophisticated or new, it's plain old misdirection, point the fingers all over the place while you rapidly rise premiums by 70%+.

Do you know what isn't up 70%?

Yet again, you are taking just a snapshot of the entire picture and pinning your hat on it.

Motor premiums have been reducing since 2018 for average drivers and continue to reduce which would correlate with a reduction in reported claims.

I find your flip flopping amusing. On one hand you are lambasting insurers for settling out of court then above, you use the reduction in court settlements as a stick to try and beat them with.

As for the 70% increase.

A 70% increase on a premium that is way way under priced is not an increase in real terms, it is simply the premium returning to its correct base level.

So one more time, for your benefit and because after this post I will not be addressing you again, if claims awards come down, prices will come down. They are already reducing for motor and will continue to reduce. For liability, if proper legislation is implemented and the book of quantum is scrapped, along with real deterrents and penalties for those that make fraudulent or false claims, prices will reduce and businesses like play centres will be able to get insurance.

So thats some free education, from me to you, take it or leave it, I dont care, but I'm not going to waste any further time with you.

Boggles

meeeeh wrote: »

This thread was of high quality and interesting until you showed up.

Threads were merged.

Also High Quality? It was basically an extension of the Bailey thread, FG Bashing.

Which I'm okay with.

meeeeh wrote: »

And btw you forgot the numbers for district and circuit court. Also high court dmnumbers include medical negligence claims.

The total amount of awards across the three courts fell from €206,509,442 in 2017 to €177,068,972 in 2018 (down €29.4m)

Some of this was driven by a reduction in medical negligence awards, which fell by over €7m or by 7.5%.

Boggles

Jurgen The German wrote: »

Motor premiums have been reducing since 2018 for average drivers and continue to reduce which would correlate with a reduction in reported claims.

What's an average driver?

I guess that would be me.

Mine went up again in April of this year.

Jurgen The German wrote: »

A 70% increase on a premium that is way way under priced is not an increase in real terms, it is simply the premium returning to its correct base level.

None of my premiums ever went down next to near 70%.

Maybe I'm just unlucky, wonder what other people have experienced.

Guess I am not alone.

April 2018

Despite recent research from the CSO indicating that the cost of motor insurance has dropped by 12.8% in the past year, many motorists are seeing premiums rise at the time of renewal, according to AA Ireland.

In a survey of more than 4,000 Irish motorists, more than half (54.06%) said they saw a significant increase in their insurance costs at the time of their last renewal. A further 23.35% said they had seen their insurance costs continue to rise year on year.

* CSO got their information from Insurance Ireland.

Tony EH

NIMAN wrote: »

The new attitude now is to blame the industry! That's typical of us Irish. Always someone else's fault.

NIMAN wrote: »

I'd disagree.

Did you watch the clip of Pearse Doherty grilling the insurance CEOs in committee a few weeks back.

They investigate a miniscule amount of claims.

This is why the industry gets a portion of the blame. They don't even bother fighting bogus claims, they just recoup the hit from the punters by upping insurance costs.

Boggles

Tony EH wrote: »

This is why the industry gets a portion of the blame. They don't even bother fighting bogus claims, they just recoup the hit from the punters by upping insurance costs.

How to get €16K compo from this insurance company without really trying

Written by a solicitor so not exactly neutral.

But I think it gives us a glimpse into an industry the vast majority of which is shrouded in secrecy.

SlowBlowin

Jurgen The German wrote: »

When you sign up to an insurance policy you sign a subrogation waiver which means you agree to allow insurers assume the control of any claims. Knowing something is one thing, proving it beyond reasonable doubt and thus negating the claim is something else entirely. Now maybe you and your colleagues know more about claims and the likelihood of going to court and being successful than the insurers and their expert claims and legal departments, who knows, but if you did and do, why didn't ye agree to let them refuse indemnity and take on the time and expense of defending the claim yourselves?

Or why bother buying insurance in the first place if ye know better?

Its not about the individual claim, its the health of the whole industry, thats what I was explaining at the start, but you went all aggressive.

If the insurance companies had a few morals, they would not be in this mess, and if the insurance companies don't have any morals then it should be legislated and enforced.

The whole "its cheaper" argument you have is immature, lacks morals and shortsighted. Its cheaper to let cancer patients die, but we dont, why not ? Its cheaper to shoplift, but we don't, why not ?