Martin Browne (Tipperary, Sinn Fein) | Oireachtas source

Given the 40% reduction in personal injury awards since the new personal injuries guidelines came into effect, reductions should have been passed on to members of the public and organisations and businesses that need them. Instead of reductions, the businesses in the entertainment sector are under huge pressure right now and have seen hikes in their premiums. Public liability insurance costs have also increased by 15%, according to the Alliance for Insurance Reform. There have been reductions in some sectors, but increases in others. The insurance industry needs to be taken on.

It is essential that insurance companies immediately reduce insurance premiums to reflect, euro for euro, the 40% reduction in personal injury awards since the new personal injury guidelines came into effect. I must call on the Minister to remove the delay the Government has placed on the Sinn Féin Judicial Council (Amendment) Bill which would hold insurance companies to account and ensure they reduce premiums in line with the reduced cost of claims. What is going on with this?

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