adjustercom.com
adjustercom.net
The Stockwell Firm adjustercom publishes your thoughts and ideas...
Home
News

 Features


Other Claims News
People
Forums
The Comp Examiner Directory
The Liability Adjuster Directory
Service Provider Directory
Post a Job
View Jobs
Resumes
View Resumes
Contact Us

Adjusters Friend

jobs.adjustercom.com

 

Place Your Banner Here With A Click

 

adjustercom.net - FraudFromInsideAndOutsideTheCourtroom

 


Welcome Guest! | Login | Register with adjustercom
 
 
News

News Main Page

Email a Friend Email A Friend

More News

March 25, 2024
California Division of Workers' Compensation Posts Adjustments to Official Medical Fee Schedule (Physician Services / Non-Physician Practitioner Services)

March 19, 2024
Nearly half of all litigated workers' compensation claims in the Los Angeles basin are cumulative trauma claims.

March 7, 2024
California's Division of Workers' Compensation Posts Adjustment to Official Medical Fee Schedule (Ambulance Services)

March 6, 2024
Accident Claims The Life of AdminSure Claims Adjuster Alexis Wicker



Ireland Experiencing Burgeoning Third-Party Automobile Liability Claims
By Lonce LaMon - June 24, 2016

According to the Irish Times in an article of today, June 24th 2016, 8.6 million visitors visited Ireland in 2015, at 13% more than in 2014.   According to the writer, 2016 is expected to be even more successful in the tourist sector. 

But the article expounds that visits for work reasons are also growing because of Ireland’s reputation as a cost-effective, business-friendly environment.   Ireland is home to overseas companies for a multitude of reasons.

It looks good in terms of numerous factors attracting people and businesses to the country.   But now there’s a new problem:  a rising cost in automobile insurance.

The writer, George O’Connor, predicts by the end of 2016, the average motorist is likely to pay 300 euros more for a comprehensive policy than two years ago.  With many factors in play, the biggest is the surge in personal injury claims: multiple claims per accident are commonplace.  With cars and roads safer, the number has increased and the value more than doubled within the past decade. 

O’Connor’s opinion is too much money is being paid out too easily.  The trend has hit Ireland of claims professionals paying and settling generously to dispose of claims plus alleviate themselves of the long discussed in California “nuisance factor”.   More claims then get filed because people get the idea there’s a very good chance of a nice pay-out.  It’s a psychological trend.  Once it starts, it’s hard to stop the mind-bend. 

Claims adjusters cut corners.  Claimants make fraudulent claims because they believe there’s no negative consequence.   But claims professionals need to take care not to start a stampeding trend: especially when times are starting to look good.

Throw money at claims in order to close them.  It’s a vicious cycle. 

Third-party liability costs in Ireland have tripled in the past four years, according to O’Connor, who is managing director of Enterprise Rent-A-Car, Ireland.  He writes that they are now three times higher than in France, and twice higher than in Germany, Spain, and the United Kingdom.  Enterprise Ireland has had to increase its liability reserves by almost 200 percent.  That makes their liability costs the biggest of any Enterprise operation in Europe.

After people and cars, O’Connor states liability is now its third biggest expense.  With rising costs of automobile use, Ireland’s reputation as a competitive destination for overseas visitors will suffer. Rising insurance expense will also inhibit investment and job creation.

O’Connor brings up the well-known and logical notion of stamping out the belief it’s easy to get a pay-out.  He suggests a European Union bench mark for soft-tissue injuries which could serve to bring Ireland in line with other EU countries where liability costs are less.   With the price of car insurance rising 30 percent each year, something’s got to give.

O’Connor thinks an EU benchmark would restore the balance, prevent fraudulent claims, and lower litigation. 

But like a steaming locomotive, once it gets going, it’s not so easy to stop. 

Irish Times, by George O'Connor, June 24th 2016

lonce@adjustercom.com

 
 

 Hot Jobs


Adjuster / Examiner
Claims Examiner
Santa Ana Unified School District
Santa Ana, CA
View All Jobs

The J Morey Company

Build Your Brand

jobs.adjustercom.com

The J Morey Company


    Copyright 2024 | Privacy Policy | Feedback |  

Web site engine's code is Copyright © 2003 by PHP-Nuke. All Rights Reserved. PHP-Nuke is Free Software released under the GNU/GPL license.