Oireachtas Joint and Select Committees

Wednesday, 15 December 2021

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

Insurance Issues: Engagement with Insurance Companies

Mr. Kevin Thompson:

We have seen a 45% to 46% reduction in general damages by PIAB. From our point of view, we regard that as 17% of the total loss cost. When we move that along in terms of other technical prices, it works out as a 10% or 11% reduction on our technical price.