Mairéad Farrell (Galway West, Sinn Fein)
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Gabhaim buíochas leis na haíonna atá sásta labhairt linn. I thank the guests for appearing before the committee today. Many people had concerns over payments for personal injury claims and lost faith in the insurance industry as a result. The introduction of the personal injury guidelines on 24 April significantly reduced the cost of claims. As soon as the guidelines came into place the insurance industry warned that premiums would not fall immediately and I want to discuss that today. Insurance is priced based on the expected cost of claims in the future. What percentage of the insurance industry's total cost is absorbed by gross claims incurred for personal injuries?