asked the Minister for Industry and Commerce if he will state in expansion of a reply of 17th May, 1961, as regards employers' liability insurance in Ireland, giving separate figures for (a) Irish companies and (b) non-Irish companies the disposal of the premium income under the following heads (1) expenses of management, (2) commission, (3) medical and legal expenses on the basis of five per cent. of premiums as in the Beveridge Report, (4) total administrative expenses, (5) transfers to reserves, including additional reserves, (6) profits, (7) claims paid, excluding medical and legal expenses, and including transfers from reserves and (8) premium income; and if he will express each head from (1) to (7) as shillings and pence per pound of income.
Written Answers. - Employers' Liability Insurance.
The particulars requested by the Deputy are set out in the following table.
EMPLOYERS' LIABILITY INSURANCE
(Business in Ireland)
Average for years 1955-1959
|
(a) Irish Companies |
(b) Non-Irish Companies |
|||||
|
Amount |
Expressed per £ of Premium Income |
Amount |
Expressed per £ of Premium Income |
|||
|
£ |
s. |
d. |
£ |
s. |
d. |
|
|
(1) Expenses of Management |
123,729 |
4 |
5 |
395,662 |
5 |
8 |
|
(2) Commission |
39,775 |
1 |
5 |
105,839 |
1 |
6 |
|
(3) Medical and Legal Expenses (assumed at 5% of premium income) |
27,738 |
1 |
0 |
70,188 |
1 |
0 |
|
(4) Administrative expenses (1)+(2)+(3) |
191,242 |
6 |
10 |
571,689 |
8 |
2 |
|
(5) Transfers to (+) or from (-): |
||||||
|
Unexpired Risks Reserve |
+9,361 |
7 |
+12,664 |
2 |
||
|
Additional Reserve |
+5,557 |
–61 |
||||
|
(6) Underwriting Profit |
39,581 |
1 |
5 |
101,535 |
1 |
6 |
|
(7) Claims (including increase in extimated liability for outstanding claims) |
309,018 |
11 |
2 |
717,940 |
10 |
2 |
|
(8) Premium Income |
554,759 |
— |
1,403,768 |
— |
The figures included for 1959 are provisional.