Incident & Claims Analysis – Irish Insurance IndustryAugust 8, 2023
We recently reviewed the last 5 years of claims across a numbers of sectors to examine if there were certain months or periods each year when the occurrences of incidences were higher. It revealed some interesting findings.
The lead up to the traditional summer builders’ holidays sees an increase in claims with a drop off occurring in the winter months.
Hotel & Hospitality
A steady flow of claims throughout the year with peaks occurring in the summer months, as expected, together with holiday season. Other increases tie into school mid-term breaks and Christmas periods.
Nightclub & Late Night Venues
A steady flow of claims throughout each year culminating in over one quarter of claims occurring in November/December.
The Dry January impact? February increase aside, the steady trajectory outside the July peak leads to a November-December festive period accounting for nearly 25% of all claims for the year.
The highs of the festive period sees 31% of claims occurring in the October - December period, in contrast to January - March with a low of circa 14%.
The retail sector claims have the most dramatic differential with over 38% occurring in the October-December period.