Dáil Éireann Debate, Thursday - 16 December 2004
56 Mr. J. O’Keeffe asked the Minister for Enterprise, Trade and Employment if his attention has been drawn to the fact that the introduction of the book of quantum by the Personal Injuries Assessment Board in June 2004 has led in general to increased compensation awards; if this was intended policy; and his views on whether the downward trend in insurance premia prior to the establishment of the PIAB may be reversed as a consequence. [33548/04]
View answerIn producing the book of quantum it was not intended policy to either reduce or increase personal injury compensation levels but merely to reflect, in a guide, what the current level of damages is for particular types of injuries. The book of quantum was compiled by an external independent expert company using data sourced from courts, the Irish Insurance Federation and the State Claims Agency. The book is a guide to a range of compensation levels for particular types of injuries and reflects existing levels of awards in this country. The book contains clear guidelines as to the interpretation of its contents. Operational matters relating to the Personal Injuries Assessment Board, PIAB, are a matter for the CEO of PIAB. However, to date I believe PIAB has not made any awards, I have no statistical evidence of any changes in compensation awards in this country since the introduction of PIAB and therefore cannot comment on any potential impact on insurance premia.
The book of quantum is one element of a whole raft of measures contained in the Government's insurance reform programme, which have contributed to downward pressure on premia. All the measures are expected to lead towards further reductions as their effects continue to impact. These other measures include reform of the law on personal injury, improvement in road safety measures, public information, promotion of competition, transparency and consumer protection.
