Oireachtas Joint and Select Committees
Wednesday, 14 September 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Rising Cost of Motor Insurance: Discussion (Resumed)
11:00 am
Mr. Maurice Priestley:
There are two advantages to our scheme in terms of costs. First, the fee is fixed. Irrespective of the size of the claim, the fee is €600. Second, the net cost is 6.5% compared with 50% or 60% in the litigation system. That is where the real saving lies. It is not related to the level of damages and the board has no remit to set the level of damages. We just deal with cases based on the current levels.
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