Oireachtas Joint and Select Committees

Thursday, 8 September 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Rising Cost of Motor Insurance: Discussion

11:00 am

Mr. Conor Faughnan:

It would be a very significant advance on where we are now, but the book of quantum will probably have to be a living document of some sort. Whether one would do something as crude as applying the CPI to it or whether there are other metrics and correctors one can put in, it would probably have to be a continually reviewed living document. What is of critical importance - we said this earlier - is that one cannot compel courts to do anything in the democracy that we have, but it will be as an outcome absolutely vital for courts to abide by the book of quantum because the moment they deviate from it, it undermines the entire mechanism.

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