Dáil debates

Thursday, 16 June 2022

Ceisteanna Eile - Other Questions

Insurance Industry

9:50 am

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

There are a couple of things I want to say on that. I acknowledge the case of that business. I am happy to talk to the Deputy about that company next week. If it is closed, it is closed, but if there is anything we can do through the industry, rather than through the Department of Finance, such as putting it in touch with people who may be able to help, we will be happy to help in that way or in any other way we can.

At government level, legislation to strengthen the role of the Personal Injuries Assessment Board, PIAB, is currently in the system and legislation on the duty of care has recently been approved by Cabinet. Businesses have said that this is the single most important aspect from their point of view. Up to now, if somebody had a slip or trip in a shop, restaurant, pub or garage, the person who owned the property was nearly always on the hook for everything regardless of whether the person was negligent in respect of where he or she was walking. That legislation will come through the Oireachtas this year. There was a very positive test case in this High Court a few weeks ago that upheld the personal injury guidelines. The legal profession earns €130 million from the insurance sector and, therefore, it has a vested interest in maintaining the status quo. This case may be appealed. Even though we have done our bit, we might have to wait for some of these guidelines to be fully confirmed through the courts before price reductions are seen. I meet the chief executives of the top major companies here on an ongoing basis to ensure these reductions will come through. They have assured us that, once the guidelines have been confirmed by the courts, price reductions will come through. The Oireachtas has done its bit but we are waiting for the courts to give final approval to what has been put in place, which we hope they will.

Comments

No comments

Log in or join to post a public comment.