Submission on CCPC Market Study into the Public Liability Insurance
Tue Jul 21 2020
Members will be aware that in August 2019, the Competition and Consumer Protection Commission (CCPC) launched a market study into the Irish Public Liability Insurance Market. As part of this study, it opened a public consultation, seeking views from stakeholders on their experiences in the public liability insurance market, seeking further evidence to make a fully informed examination of the market.
The CCPC sought views from representative groups, public bodies, industry representatives, and customers in relation to the competitive conditions in the market for public liability insurance. The focus is on issues and trends existing in the market prior to the outbreak of COVID-19. Based on the evidence collected, the CCPC will make recommendations to address issues found in the sector. Specifically the consultation sought views in relation to:
- Competitive conditions in the market for public liability insurance, including the conditions of entry, expansion, and exit;
- Influence of the ‘insurance cycle’ on price and availability of public liability insurance;
- Role of switching in the market;
- Degree of cost inflation that can be observed in the market; and
- Digitalisation of the delivery of insurance services.
In addition to meeting with the CCPC, given the importance of this issue to our Members, Brokers Ireland has provided a written Submission, which may be accessed through the Members Area of the Brokers Ireland website under Download Centre/Technical Articles & Information Documents.
Director of General Insurance