Fianna Fáil Minister Dara Calleary has welcomed the publication of the Injuries Resolution Board’s Annual Report, emphasising the significant impact the state body has made in reducing the cost and volume of personal injury claims.
The Injuries Resolution Board, formerly known as the Personal Injuries Assessment Board (PIAB), was established in 2004 as an independent body to provide a fair, prompt, and transparent resolution of personal injury claims without the need for costly litigation.
The report highlights that the Board’s work in the past year has generated savings of €75 million, which would otherwise have been spent on lengthy and expensive legal proceedings.
He said, “These are real savings that should be passed on to insurance policyholders. Fianna Fáil in Government promised to reduce the cost of personal injury claims, and this report shows that the reforms Fianna Fáil introduced are doing just that. Both the cost and volume of claims have substantially decreased since the introduction of the Personal Injuries Guidelines."
Minister Calleary further emphasised the importance of ensuring that these savings are felt by consumers, including businesses, homeowners, and motorists. "While we've made significant progress, it is clear that policyholders have yet to see the full benefit of these reductions in their insurance premiums."
Minister Calleary also stressed the need for continued cooperation from all sectors involved in personal injury claims to ensure that the benefits of the reform are felt across the board. “It is imperative that all stakeholders fully commit to supporting the reforms introduced through the Action Plan for Insurance Reform. We must ensure that the savings generated through these efforts reach businesses, homeowners and motorists who deserve fair and affordable insurance coverage.
"Fianna Fáil in Government will continue to drive insurance reform with transparency and fairer premiums at the heart of our efforts ensuring real and tangible benefits for consumers."
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