Government urged to ‘take action’ on insurance premiums

New data showing that the total amount awarded in personal injuries cases dropped by €36 million last year means the Government must “take action” in relation to the premiums being charged by insurance companies, according to a consumer group.

The number of new personal injury cases has fallen by more than 40 per cent in the past four years and total awards were down by €36 million last year, according to the Court Service’s annual report, published this week.

Following the March 2021 adoption by the Judicial Council of guidelines slashing awards for mainly minor personal injuries, there was “a significant reduction” in the number of new personal injury actions commencing in the High and Circuit Courts, Courts Service chief executive Angela Denning said.

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The Alliance for Insurance Reform called on Friday for “urgent Government action to be taken to address intractably high insurance premiums in the face of ever decreasing volumes of claims and award sizes”.

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Flora Crowe, one of the group’s board members, said: “The judicial guidelines appear to have had a significant impact on the size of awards. But this is simply not being reflected in liability premiums. How much longer can this be allowed to continue in the face of mounting evidence that demands premium reductions? Awards fell by €36 million last year.”