Car Insurance Prices Ireland

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Car Insurance Prices Ireland

Car Insurance Prices Ireland

FactCheck: Are auto insurance claims and legal fees increasing or decreasing? Using previously unpublished data, FactCheck enters the proceedings in a heated dispute between the Law Society and the insurance industry.

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The row took a turn for the worse this week, when the new president of the Law Society accused the insurance industry of “lying” about rising car insurance costs.

In an interview on Monday, Stuart Gilhooly told the Irish Independent that costs and damages had not increased and legal fees had decreased.

Who’s here First, we’ll look at the evidence presented by both sides, including a new analysis of previously unpublished insurance industry data.

We will then grant separate judgments on each of Gilhooly’s claims in three parts: the costs of the claim; damages; and legal fees.

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I don’t think there’s any evidence that [increasing car insurance premiums] has anything to do with it. Demand prices have not increased. Legal costs are actually reduced. The damage did not increase. THE FACTS

The Institute of Legal Cost Accountants confirmed to the Law Society that, in their experience since the appointment of the current tax administrators, costs in the High Court have been consistently reduced (emphasis added ). Although this evidence is expert, authoritative and reliable,  this is unfortunately an area without published statistics.

That’s unfortunate, because FactCheck can’t use alleged evidence or personal communications as evidence, although we certainly notice them.

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“High Court awards … show a slight reduction when awards in excess of €5 million are disregarded (medical negligence cases involving awards in excess of 5 million euros and is not related to car insurance matters).

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First, the Justice Department’s annual report does not specifically address auto liability cases, only personal injury cases in general.

Third, the annual report does not specify the amount of compensation in cases where the award exceeds 5 million euros, so it is not clear how we can “ignore” such cases (remove them from ‘the calculation), as suggested by the Law. Society. .

As you can see, there were one or two years when the average award went down (2011 and 2013), but overall the trend has been clearly upward for the past seven years, with an annual rate of increase in 2014 (up 33.9%) and 2015 (17.8% increase).

The trend in the District Court has changed slightly, lowering the fees three times in a row between 2010 and 2012.

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The Justice Department figures also show a slight increase in District Court ratings (20%). This increase is inevitable given the 58% increase in the jurisdiction of the District Court since 2014. Therefore, in effect, the proposed fee has been reduced accordingly. within the Provincial Court when the change of jurisdiction was considered.

First, the Law Society indicates an increase of 20% (20.53%) in the total number of awards paid in 2015 in 2015 compared to 2014 – not the average, which most important condition.

Second, the increased jurisdiction of the District Court did not increase the number of injury cases that received compensation. In fact, the District Court made six awards

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Ultimately, the most important criterion here is the average prize awarded. And last year, it increased by 21.2% in the High Court, and 17.8% in the High Court.

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Between 2013 and 2015, there was an average increase of 57.7% in the High Court and 37.6% in the District Court.

As the legal fees or compensation did not go up, as mentioned above, the cost of car insurance did not go up either.

This is really bad reasoning. First, it is not confirmed that the cost of the procedure has not increased. Second, it appears that average compensation is provided

Third, this does not mean that the cost of car insurance has not gone up. We can’t say anything for sure about car insurance claims, especially from personal injury compensation data, in general.

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Although we can say that we know that the average personal injury claim, which includes auto liability claims, is going up in court.

Finally, the Law Society questioned the evidence presented by Insurance Ireland in its response published on Monday to Stuart Gilhooly’s comments, which showed the increase in the cost of legal fees and compensation.

However, FactCheck asked Insurance Ireland for these additional figures and we received them. The following is a new analysis of this basic data, which has never been published before.

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In response to our enquiries, Insurance Ireland has provided its members with motor insurance market data for 2013-2015 on its website.

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The trend is clear in four categories: the price of the variety decreased in 2014, before rising again in 2015.

Costs in each category—legal costs, compensation, medical reporting costs, etc.—were higher in 2015 than in 2014.

And in all categories – except for legal fees for insurance companies – the price of 2015 is higher than in 2013.

The average number of auto liability claims was higher in 2015 than in 2014 and 2013, after decreasing in 2014.

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First, unfortunately we only have the years 2013-2015. FactCheck asked Insurance Ireland for pre-2013 data, but they said it was not available, as this year was the first time it was collected at an industry level.

This was done at the request of Minister of State Eoghan Murphy’s Oireachtas into the cost of car insurance, said a spokesperson for FactCheck.

According to Insurance Ireland, this is due to time constraints in providing these figures to the task force.

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There is no evidence to suggest that the remaining 22% of the data is unbalanced in one direction or another, or that this 78% is not representative of the general picture, but it should be noted that the data is insufficient some.

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The Personal Injury Assessment Board (PIAB), also known as InjuriesBoard.ie, is less relevant to the wider debate about the reasons for the rise in car insurance costs, as it works as an intermediary between claimants and insurance companies, without common law and others. money spent.

It also handles small claims from Insurance Ireland members. In 2015, for example, Insurance Ireland members won awards in 16,029 cases. The Office of Injuries received compensation in 8,815 cases.

However, it is worth looking at the average compensation provided by the Injuries Office, which provided the relevant data in response to our request.

As you can see, not much has changed from year to year here in the last eight years. Last year’s average award was slightly lower than in 2013, but slightly increased from 2014.

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The average premium over the last three years (€21,472) is also slightly lower than the insurance industry average (€22,383) – a difference of 4%.

According to figures from Insurance Ireland, the average total value of motor liability claims increased between 2013 and 2015 (although 1.4%), and fell in 2014.

According to Insurance Ireland, the average legal fees (for claimants and insurance companies) are:

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However, the combined legal fees were higher in 2015 than in 2014. As for the year-over-year change, this is the most important factor in determining the current trend.

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This may change when we have the data for 2016, but based on the best evidence available at this time, we would rate it as MOSTLY FALSE.

As the Reader’s Guide explains, this means: “The claim contains elements of truth, but lacks detail or context. Or, the best available evidence weighs the claim”.

Figures from Insurance Ireland show that average car insurance claim payouts increased year-on-year in 2015 and were also higher in 2015 than in 2013. .

Figures from the Bureau of Injuries show that the average award for car claims was slightly lower in 2015 than in 2013, but the final year-on-year change was slightly higher. between 2014 and 2015.

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And data on court services, cited by the Law Society, show that costs are also increasing at the High Court and District Court, when it comes to personal injury claims in general.

Correction: This article in one instance referred to the President of the Law Society as Shane Gilhooly. The President of the Law Society is Stuart Gilhooly, as mentioned in other cases, elsewhere in the article.

For information on how FactCheck works, what the mandate means and how you can get involved, see our Readers’ Guide here. “I got €7,946 in insurance as a learner driver. In Scotland I pay €580 – how much is a young driver

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