Lowering the Cost of Insurance
Labour Party Manifesto 2020

Labour is committed to a range of measures to reduce the cost of insurance for business, and for the community and voluntary sector.

Labour will promote Pooled Group Insurance schemes which will ensure significantly cheaper premiums for businesses, voluntary and community groups who could act together to negotiate lower premiums. The Department of Enterprise will be tasked with supporting and facilitating sectors such as childcare operators or tourism businesses who wish to pool together to seek insurance.

Labour will review the cost of insurance and the profitability of insurance companies, and will change incentives and disincentives for insurance companies to promote more competitive insurance rates. Labour will use the Irish Public Bodies (IPB) Insurance company, owned by local authorities and other public agencies, to offer affordable insurance to community organisations, markets and festivals.

Labour will extend State Claims Agency cover to Section 38 and 39 bodies, to ensure that health and social care service providers who are mostly or fully funded by the HSE have their public liability insurance costs met by the State Claims Agency. This will significantly reduce their insurance premiums and free up more resources for frontline healthcare and disability services.

Labour will introduce a National Claims information database to provide transparency on claim costs and awards for injuries. We will also ensure that the Personal Injuries Commission engage in stronger scrutiny of claims and reduce the claims period for minor soft injury tissue injuries.

Labour will establish an independent Insurance Fraud Unit to be funded by insurance companies who would be obliged to automatically refer exaggerated and misleading claims to the Gardaí.

Labour will require lawyers to comply with the duties of candour, to ensure they do not to seek to win litigation by any improper means. We will also seek stronger enforcement of legislation surrounding advertising of “no win, no fee” legal services.