Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The Government put such effort into the passage of the guidelines and gaining agreement to their implementation because of the commitment the Government has to reducing the award levels. We expect this, in turn, to have a significant effect on premiums and costs, which we accept are critical and difficult issues for many holders of private insurance policies and, in particular, employers at the moment.

We will track this through the work the Central Bank will do. It published the very important data set that allowed us to better understand things that were happening in the motor insurance sector. It is best placed to do this work. Now that these guidelines are in place, while respecting the independence of our courts, the point of having the guidelines is our expectation that they will begin to affect decisions made by our judges in cases in front of them now.

See this speech in context