Sunday 23 April 2017

Workers and drivers pay price for this market mess

Liberty Insurance’s head office in Cavan
Liberty Insurance’s head office in Cavan
Charlie Weston

Charlie Weston

The general insurance market, and the motor side in particular, is in turmoil. Workers in the sector and drivers are paying the price for this mess as evidenced by large numbers of staff layoffs and premium rate rises.

Premiums shot up 16pc in the last year.

Liberty Insurance is laying off 270 people, RSA Ireland is making around 200 redundant, while FBD has issued repeated profit warnings.

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