Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

We all share the objective here, which is to reduce the cost of insurance for citizens, businesses and voluntary organisations. We need all players to make a contribution to this objective. I ask the Judiciary to proceed without delay in establishing the judicial council, setting up a personal injuries commission and replacing the book of quantum with a schedule of awards that are more realistic and more in line with those of other countries. We also need the insurance industry to play its part in bringing down premiums and reducing its profit margins. We also have the Garda involved in stepping up its activities relating to the investigation of fraud. The Government has asked the Law Reform Commission to undertake a detailed analysis as to whether we could establish constitutionally sound legislation to cap or limit the amount of damages a court may award. We expect public consultation on that matter later this year. It will be interesting to see what the Law Reform Commission comes up with because if the other reforms do not work, we need to consider the possibility of legislating in this House to limit and cap awards. We should not rule out a referendum down the line if the existing reforms that are planned do not work.

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