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

I thank the Deputy for his question. Insurance reform is a priority for the Government and for me, as Tánaiste. Premiums have been too high for too long and I know some businesses and volunteer groups continue to struggle to find insurance at any price. The Personal Injury Guidelines were commenced on 24 April 2021. This met the programme for Government commitment to recognise the work of the Judicial Council in providing guidance on personal injury claims.

The report published by the PIAB on 15 October 2021 provides an insight into the impact of the guidelines on average award levels, as assessed by the board. The report is also based on a much larger sample than our previous figures. It shows that the average general damages awarded under the guidelines is €11,808, a 46% decrease on 2020. The average total award under the guidelines is €14,223, a 40% decrease on 2020. Some 71% of awards are now €15,000 or less, compared to 30% of awards in 2020.

These figures are welcome and show that the Personal Injuries Guidelines brought into effect by the Government are having an impact. I expect this dramatic drop in award levels to be reflected in reduced premiums and the Government will continue to work and to press the insurance sector to make sure this is the case.

The Personal Injury Guidelines are just one measure brought forward under the Government's action plan for insurance reform. Further actions due this year include reform of the law on occupier's liability, enhancement of the role of PIAB, and the strengthening of competition law in Ireland more generally.

Implementation of these legislative reforms alongside other actions set out in the action plan should bring about meaningful reform of the insurance market and create the conditions for the provision of affordable insurance for consumers, community and voluntary groups, and business.

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