Commercial insurance premiums are poised to fall as much 40-50 per cent in certain sectors this year as businesses finally benefit from a series of insurance reforms in recent times, Colm Kelleher, managing director of insurance and financial planning broker LHK Group, told the Business Post.
The man behind the Hino truck dealership on the Naas Road in Dublin was estimated to have had a fortune of about €175 million at the time of his death, the paper noted. However, a will dated April 22, 2024, shows that the businessman left an estate valued at €232.7 million to his wife, Denise. She is now chief executive of the Harris group.
Reforms include the introduction of judicial guidelines for personal injury awards, which have resulted in a significant reduction on average awards, and the enactment duty-of-care reforms last July addressing the issue of ‘slips, trips and falls’. Several of Quinn’s former assets have been sold or had sales agreed in the past 14 months. These include Buswells, a hotel opposite Dáil Éireann, the Barge on the Grand Canal, and JW Sweetman on O’Connell Street, the report noted.