Dáil Éireann Debate, Thursday - 21 June 2018
132. Deputy Billy Kelleher asked the Minister for Business, Enterprise and Innovation her views on the ten proposals as outlined by an organisation (details supplied) on reducing the costs of business insurance as recently presented at the Joint Committee on Business, Enterprise and Innovation; and if proposals regarding the calculation of awards at realistic and sustainable levels will be considered with respect to the book of quantum. [27322/18]
Amharc ar fhreagraApart from motor insurance, which falls under the remit of the Minister for Transport, policy responsibility for insurance is a matter for the Minister of Finance. I as Minister for Business, Enterprise and Innovation have no direct policy responsibility for insurance. However, officials of the Department of Business, Enterprise and Innovation, along with other Departments and Agencies, are members of the Cost of Insurance Working Group chaired by the Minister for Financial Services and Insurance, Mr Michael D'Arcy T.D.
The Cost of Insurance Working Group has undertaken a review of the factors which are influencing the increased cost of insurance. Its objective is to identify immediate and longer term measures which can address increasing costs, while bearing in mind the need to maintain a stable insurance sector. The first phase of this work involved an examination of the Motor Insurance sector. The second phase involved an examination of the Employer Liability Insurance and Public Liability Insurance sectors.
Recommendations from the Reports of the Cost of Insurance Working Group are currently being implemented and address many of the issues raised in the proposals, including:
- Review of the Civil Liability and Courts Act 2004;
- The establishment of a Garda Insurance Fraud Unit;
- The establishment of a new National Claims Information Database;
- Measures to Protect the Consumer;
- Examining the frequency of future Book of Quantum updates in terms of any future changes to its production.
The revised Book of Quantum was published in October 2016. The Book was compiled by independent consultants and commissioned by the Personal Injuries Assessment Board (PIAB).
This Book is not a recommendation for compensation levels but rather a reflection of the prevailing level of awards.
PIAB is considering the recommendation arising from the First Report of the Personal Injuries Commission in terms of linking future publications of the Book of Quantum to the newly standardised examination and reporting injury categories in the Whiplash Associated Disorder (WAD) scale.
The outcome of the final report of the Personal Injuries Commission on benchmarking of awards, including any relevant recommendations relating to the Book of Quantum, is also awaited. It is expected that the Personal Injuries Commission will publish this report shortly.
