RGDATA and other insurance reform campaigners remain concerned about the impact of personal injury pay outs on insurance costs after the Judicial Council deferred a decision on new guidelines to February 20.
Media reports suggest that the judges are considering recommending that pay outs are more in line with those in Northern Ireland instead of much lower EU payouts.
This is causing serious concerns amongst campaigners who want an 80% reduction in pay outs for fully recoverable, minor injuries.
“We will not see the required reduction in shop insurance costs to sustainable levels unless we bring the pay outs for very minor, fully recoverable bumps and bruises right down to EU levels. Bringing Irish pay outs in line with those in Northern Ireland will not address this issue and will certainly not deliver the sort of reductions in insurance costs that Irish shops desperately need to stay competitive,” says RGDATA Director General Tara Buckley.
You can read the press release from the Alliance for Insurance Reform here.
Read the Irish Times report on what the judges are considering here