Dáil Éireann Debate, Tuesday - 4 December 2012
464. Deputy Willie Penrose asked the Minister for Justice and Equality the steps he is taking to introduce legislation to enable periodic payments be made in respect of personal injuries awards in catastrophic injuries; and if he will make a statement on the matter. [54346/12]
View answerThe Programme for Government includes a commitment to introduce legislation to facilitate courts making provision for structured settlements in circumstances where lump sums are currently awarded as a consequence of individuals suffering catastrophic injury because of the negligence of another. The successful operation of a statutory scheme for structured or periodic payments requires the establishment of a financial infrastructure to ensure that continuity of payment is secure. In this regard the High Court Working Group Report on Periodic Payments recommended that the State, through the agency of the National Treasury Management Agency, be empowered to provide injured victims with the necessary security for periodic payments either by the provision of annuities to insurers and others or in such other manner as may be appropriate. Alternatively it was recommended that consideration be given to the introduction of a statutory scheme whereby payments made under periodic payment orders will be statutorily protected and guaranteed. The NTMA has concluded an actuarial review on the feasibility and cost-effectiveness of the State acting as an annuity provider to insurers and indemnity providers in personal injury actions to enable compliance with the security of payment principle. The NTMA report is being considered in consultation with the Minister for Finance with a view to the development of legislative proposals which I expect to bring to Government for consideration in the near future.
