The Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach will meet today with representatives of groups that decide on the scale of insurance pay outs. 

Motorists in Ireland have seen their insurance premiums rising up to 40% in the last year.

The Injuries Board and the Society of Actuaries in Ireland are set to resume their hearings this afternoon on the rising cost of motor insurance in Ireland.  

Representing the Injuries Board are Mr. Conor O’Brien, Chief Executive Officer, Mr. Stephen Watkins, Secretary to the Board, and Mr. Maurice Priestley, Director of Operations. 

Representing the Society of Actuaries in Ireland are Mr. Gary Dunne, Chair of the General Insurance Committee, and Mr. Ronan Mulligan, Vice-Chair of the General Insurance Committee.

Committee Chairman John McGuinness TD, said “Given that the remit of the Injuries Board is to assess compensation claims for those that have been in an accident and suffered an injury, the Committee very much look forward to this meeting where we can specifically address possible links between compensation payments and rising motor insurance premiums.” 

“Our considerations will then continue with the Society of Actuaries in Ireland – the body representing an integral constituent in the insurance industry. We look forward to hearing the expert opinion of Mr. Dunne and Mr. Mulligan in this regard, where we can further explore the reasons behind rising costs and the solutions that may exist.”

Source: www.businessworld.ie