Alliance for Insurance Reform and Injuries Resolution Board welcomes government’s new Action Plan

Policyholders should not have to wait a day longer to see meaningful and sustained reductions in their premiums

The Alliance for Insurance Reform welcomes the publication of the Government’s new Action Plan on Insurance Reform.

For liability claims, it has seen substantial decreases in the volume of claims and the size of awards

According to a spokesperson for the Alliance, they said that whilst more time is needed to study its proposals in detail, they wish to positively acknowledge this step and the previous government’s sustained commitment to delivering a fairer and more affordable insurance market for motorists, businesses, sports, community and voluntary organisations.

“The last administration delivered an exceptional programme of reform, the benefits of which are evident in recent reports from the Central Bank and the Injuries Resolution Board.

“For liability claims, it has seen substantial decreases in the volume of claims and the size of awards.

“Yet, in the context of record-level insurer profits, it is wholly unacceptable that insurance premiums have not come down.

“Policyholders should not have to wait a day longer to see meaningful and sustained reductions in their premiums, and any attempt to use today’s action plan as reason not to pass on existing savings must be pushed back strongly against by the government.”

Furthermore a statement from the Injuries Resolution Board also welcome the second Action Plan for Insurance Reform, and are pleased to play their part in delivering on the commitments outlined. “As an independent state agency, our purpose is to resolve injury claims early and cost-effectively, balancing the needs of those who have been injured and those against whom claims are made, while benefiting Irish society.

“We also enhance transparency in the personal injury landscape through data and research publication. Our overall objective is to be the preferred channel for resolving personal injury claims, making litigation the exception. We remain dedicated to supporting fair, transparent, and efficient processes that align with broader insurance reform goals, such as promoting transparency, competition in the insurance market, and fair access to claims resolution for all.”

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