Suggested Approaches To The Insurance Crisis

The Alliance for Insurance Reform was established to highlight the negative impact of persistently high premiums and calling for real reforms that will quickly reduce liability and motor insurance premiums to affordable levels and keep them that way.

The Alliance is not permitted to offer advice on the purchase of insurance or insurance strategies. However we have encountered many ways of addressing the insurance crisis as it applies to member SMEs and voluntary groups and the following are some of the collective experiences of our members over the last 18 months:

SHORT TERM:
“We have created a list of viable/active brokers currently working or willing to work with our members.  We try to advise recipients of the list to contact one or two specific providers who are covering their specific activity(ies).”

“We are also developing training opportunities with a view to informing our members on how best to carry out risk assessments; enhance their safety processes, handle incidents, improve their customer service and improve other internal activities that can positively impact on insurance.”

MEDIUM TERM: 
“We are speaking to a couple of providers about the development of a Group Scheme.  We have received data from a selection of our members to advance it but we are attempting to reach enough of a critical mass that will give us a realistic chance and leverage”.

LONG TERM:

“We are looking at establishing a mutual among our members. However it is proving complex and time-consuming”.

“We are considering going self-insured”

“Working with the Alliance for Insurance Reform, we are seeking to have the Judicial Council Act and other reforms urgently progressed to achieve long term improvement of the insurance system in Ireland.”
“We are also directly lobbying our local politicians, relevant bodies and achieving impactful PR where possible. “

As a first step, we might suggest that you contact Peter Boland at peter@insurancereform.ie and where possible, he will put you in touch with other Representative Bodies that have had similar experiences.