Vol. 544 No. 3
179 Mr. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment the extent to which she has compared insurance costs here with the costs applicable in other EU and non-EU member states, with particular reference to countries with which Ireland has major trade; and if she will make a statement on the matter. [28998/01]
I am aware from research conducted on behalf of our Department and from various EU publications that insurance costs are higher in Ireland than in other member states.
The research conducted for our Department has shown that insurance premiums are high in Ireland because compensation awards are high. Compensation for loss of income and for medical expenses arising from personal injury is paid for through the private insurance system rather than through the social welfare and health systems, as in other European countries.
Of the total cost of claims, the costs of delivery of compensation run at approximately 40%. The objective of the proposed personal injuries assessment board is to reduce these latter costs so that insurance costs may also be reduced. The implementation group is expected to report close to the end of the year as to how the personal injury assessment board may be put into operation.
