Fiona O'Loughlin
Question:14. Deputy Fiona O'Loughlin asked the Minister for Finance when the working group on the cost of insurance will complete its work. [9926/19]
View answerThursday, 28 February 2019
Questions (14)
Written answers
The Cost of Insurance Working Group is currently implementing the 33 recommendations from the 2017 Report on the Cost of Motor Insurance and the 15 recommendations from the 2018 Report on the Cost of Employer and Public Liability Insurance.
The seventh Progress Update was published last November and shows that of the total number of 78 separate relevant deadlines within the Action Plans of the two Reports up to the end of Q3 2018, 63 relate to actions which have been completed.
It is envisaged that the next Progress Update will be published shortly and will concentrate in particular on outlining the definitive position in relation to all of the 33 recommendations from the Motor Report, as the last of the deadlines within its Action Plan passed at the end of 2018.
In respect of the Employers' Liability/ Public Liability (EL/PL) Report, the vast majority of the total of 26 action points which were due for completion during 2018 overall have been accomplished. I am confident that any outstanding action points will be completed in the coming months, along with the three remaining action points with deadlines set for various quarters throughout 2019.
The upcoming Progress Update will also include an additional section providing the up-to-date status in respect of relevant recommendations from the two reports issued by the Personal Injuries Commission.
Some of the key actions and recommendations which I hope will be implemented in the coming months include:
- The Law Reform Commission to formally commence its examination of the possibility of capping levels of damages for personal injury actions;
- Progress in relation to delivering interim guidelines relating to appropriate general damages award levels for the prioritised soft tissue/whiplash injury category;
- Further consideration by the Garda Commissioner of the establishment of an insurance fraud investigation unit within the Garda National Economic Crime Bureau; and
- Publication of the Key Information Report on employer and public liability insurance claims.
In conclusion, it is planned at this stage that the Cost of Insurance Working Group project will complete its work by the end of the year in accordance with the final deadline in the EL/PL report.