Dáil debates

Tuesday, 10 February 2004

 

Insurance Industry.

3:00 pm

Photo of Mary HarneyMary Harney (Dublin Mid West, Progressive Democrats)

The chief executive of the PIAB was appointed and took up her position on 2 February last. The IT system and headquarters have been secured and the chief executive is now in the process of recruiting the staff required to assist her in the task. I met with her only last week and she is anxious to ensure that everything is in order before the board opens for business, given the importance of the role of the PIAB. We expect a commencement date of sometime in April or 1 May, perhaps the latter as it is the start of a calendar month, and we are working towards that date.

I do not have the figures regarding employer liability insurance or business insurance generally. However, awards are down and the volume of claims is substantially down, and that will feed into the system very early on. Some have suggested to me that they have already experienced a reduction in premiums. However, until all measures are in place, the exaggerated and false claims provisions being brought in by the Minister for Justice, Equality and Law Reform in the court and civil liability Bill will have a particular impact on reducing the level of fraud and exaggeration and, therefore, the high cost of premia.

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