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:

I think it is important that nobody be influenced by cases in isolation. There are always one-off cases in which the level of damages may seem unusual. What we are considering is the general level of damages across the market. The limited number of cases that are going to court now, that actually go to a hearing, are the most difficult cases where, say, the best minds in the Law Library or in the insurance company have been unable to settle. It is, therefore, very important that consideration of this issue not be skewed by individual cases. It is the market rate that needs to be considered. Whatever the market rate is, the board is obliged to award that.

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