Mr. Michael Horan:

The most recent national claims information database report on employers’ liability, EL, and public liability, PL, indicated there was an operating loss in EL and PL of 3% of total income from 2015 to 2019. The liability market is a very challenging market and has been for some years. It is reflected in some of the problems that are out there. Having said that, when we talk about agricultural shows and festivals and so on, there are many events around the country that operate with insurance and there are some that have problems getting insurance.

We have a situation in Ireland where we have had a relatively generous system of compensation over many years. The judicial guidelines are trying to tackle that. The personal injuries resolution board Bill is another building block to try to address the whole situation. The objective of all these efforts is to attract more players into the market and increase capacity. That is something we support as a representative association. Insurers need to be comfortable about the risks they take on. They want to take on as many risks as they can. As the national claims information database report shows, the liability market has made some players uncomfortable about some of the risks relating to liability in particular.