Insurers Face Irish Competition Probe Amid Price Worries
Law360, London (August 15, 2019, 6:00 PM BST) -- Insurers in the Irish public liability market will face a competition probe after businesses complained about soaring premiums, Ireland’s Competition and Consumer Protection Commission said Thursday.
Heather Humphreys, the Irish minister for business, enterprise and innovation, has asked the watchdog to investigate, her office said on Thursday.
The cost of public liability insurance, which protects companies against accident and injury expenses, has gone up 204% in the past five years, an Irish public interest group said.
Humphreys said she wants an investigation into whether competition practices in the industry are driving up prices. She described rising insurance costs as a “growing...
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