Jackie Cahill (Tipperary, Fianna Fail) | Oireachtas source

I thank the Tánaiste for his reply. We all welcome the fall in the level of awards made. When are we going to see this reflected in the price of insurance? When does the Tánaiste expect this to happen? Has he had any engagement with insurance companies on this? According to the Alliance for Insurance Reform, public liability insurance premiums continue to rise the despite a significant fall in the size of injury awards. It states that motor insurance premiums are coming down but that is not the case with public liability insurance. This is having a significant impact on businesses and the sporting organisations. The experience of SMEs, voluntary and community groups, sport and cultural organisations and charities is that renewals are actually increasing right now. The alliance states that the insurance companies cannot have their cake and eat it. It has identified the cost of claims as the key driver of insurance costs and this has been addressed by the Government and the Judiciary. As an elected representative, I am asking the Tánaiste to ensure that the drop in the level of awards is reflected in the cost of insurance to both the general public, businesses and sporting organisations.

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