Pádraig O'Sullivan (Cork North Central, Fianna Fail)
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70. To ask the Minister for Enterprise, Trade and Employment if he is satisfied that savings resulting from the work of the Injuries Resolution Board are being passed onto insurance policy holders; and if he will make a statement on the matter. [43412/24]

Dara Calleary (Mayo, Fianna Fail)
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The Injuries Resolution Board’s Annual Report 2023 showed how the organisation has delivered savings of over €75 million in avoided costs due to personal injury claims being resolved through its non-adversarial model rather than proceeding to litigation.

It is important to acknowledge that there has been a significant reduction in the cost of injury claims through the Personal Injuries Resolution Board since this Government prioritised reform of the insurance sector via the ‘Action Plan for Insurance Reform’.

The median Injuries Resolution Board award in 2023 was €11,650, down 37% from 2020.

In 2023, 42% of awards made by the Injuries Resolution Board were valued at €10,000 or less, compared to just 12% of awards in 2020.

We have also seen a substantial decrease in the volume of injury claims. 20,263 personal injury claims were received by the Board in 2023, down 35% on the number of claims received in 2019.

My Department led on the reform of the Personal Injuries Assessment Board (PIAB) – a key action under the Action Plan for Insurance Reform through the Personal Injuries Resolution Board Act 2022.

The Act introduces new functions for the Board including, expanding the types of cases it can assess, giving the agency an enhanced research and reporting role, strengthening its powers to combat fraud and introducing mediation as a new service for settling personal injury claims.

Therefore, it is imperative that we see that the savings arising from the work of the Injuries Resolution Board in reducing the cost and volume of personal injury claims are being passed onto insurance policy holders.

I am not fully satisfied that this is happening and I again challenge the insurance industry to do this.