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Old 13 Oct 2017, 13:43 (Ref:3774016)   #45
MGDavid
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Originally Posted by Mike Harte View Post
You may be overlooking the fact that insurers need to be able to put a value against the potential costs of their exposure to any risks. And it is this requirement that they have that their actuaries to provide a cost to a client.

If, as seems to be suggested by this movement to incorporate it in to an EU directive, insurers are expected to offer unlimited damages in the event of a claim, then they will not be able to provide a realistic costing to potential policyholders.

This is why, I believe, that this will not be supported by the insurance industry.
Thanks Mike, my point exactly.
It seems that even now people have not read and understood the MIA's synopsis of the Directive's consequences, as it is currently drafted.
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