Wright Insurance Brokers had the pleasure of sponsoring the Carlow Chamber President’s Christmas lunch for the second consecutive year last Friday the 7th of December. The event attracted over a hundred members of the local business community to a relaxed, festive themed networking event held at the Seven Oaks Hotel in Carlow town. Guest speaker, Julie Sinnamon, CEO of Enterprise Ireland highlighted an array of business insights to guests
John McHugh, Corporate Director at Wright Insurance Brokers welcomed guests and thanked Carlow Chamber for the work it undertakes to benefit the membership across the county. John’s speech is outlined below:
“It is a pleasure for Wright Insurance Brokers to sponsor the Carlow Chamber President’s Christmas lunch for the second consecutive year. Just a little about us, Wright Insurance Brokers specialises in Business to Business insurance solutions. Our head office is located in Wexford town and we also have an office here in Carlow on Dublin Street. We have two sister companies, Patrona Underwriting situated in Wexford town and Bump Underwriting situated in Galway city. In total the Group employs over 160 full time staff.
Our Carlow office is a very important regional office for us and we are committed to being at the heart of the local business community. Originally from and living in Carlow myself, I am especially delighted that Wright Insurance Brokers is a keen supporter of many local business and community centred initiatives held here in my home county. Highlights include co-hosting ‘The Business Picnic’ in summer and more recently the ‘Mind Magic Your Business’ event held last week in IT Carlow and organised by the Local Enterprise Office. We also are involved in sponsorship of local community schools and sporting clubs in and around the county. As an annual supporter of the Carlow Chamber Business Awards the company was honoured to be presented with the title of Carlow’s Best Place to Work in the 2017 awards.
Located on Dublin Street for the past 14 years we are now actively looking for larger office space locally as we have run out of space to meet our growing business needs and a larger office space is now needed to facilitate our expansion and creation of more employment.
Wright Insurance Brokers is a major insurance broker to the Transport sector with about 30% of that market. We hold an annual Transport Seminar in Wexford Town, the most recent was held in September with over 250 hauliers in attendance together with special guests including the British Ambassador Robin Barnett and TD Michael D’Arcy Minister for State at the Department of Public Expenditure and Reform with the special responsibility for Financial Services and Insurance.
Ireland has experienced a very turbulent time with increasing insurance premiums over the past number of years. Thankfully we are experiencing a somewhat softer market as insurance companies seek increased market share which brings more competition to the market. However the key factors driving up insurance premiums include:
- false or exaggerated claims
- excessive court awards and legal costs.
Minister D’Arcy has outlined the findings of the new report from the Government’s Personal Injuries Commission on insurance reform saying that the recommendations contained therein would provide greater consistency in awards levels . The report reveals that Irish claims pay-outs are much higher than in other markets. The average compensation award for whiplash is €17,500 which is over four times that applied in Britain. These reforms need to be implemented urgently and those found to be involved in fraudulent claims must be punished by the courts in order to drive a substantial reduction in premiums.
Finally thank you to Carlow Chamber for inviting us once again to be involved and wishing you all a very happy Christmas.”
To find out more about the range of commercial insurance products available for your business contact a member of our team today.