Insurance advocates call on Government to help reduce premiums

The Alliance for Insurance Reform said the reduction in personal injury awards is 'not being reflected in liability premiums'

According to data from the Courts Service, in 2022 the value of awards handed out by the District Courts, Circuit Courts, and the High Court fell by approximately €36m compared to 2021.

The Alliance for Insurance Reform has called on the Government to take action on high insurance premiums despite recent data from the Courts Service showing a reduction in personal injury compensation being awarded by the courts. 

However, Jennifer Carroll MacNeill, Junior Minister with responsibility for insurance, said laws relating to public liability insurance were changed in July, which should bring down premiums for business, but they will take time to bed in.