Tánaiste rejects compo board's €38m cost

THE Tánaiste has rejected claims that the Personal Injuries Assessment Board (PIAB) would cost over €38.1 million annually to run.

The PIAB is due to be set up by Mary Harney this month to cut the escalating costs of insurance premiums by reducing legal costs.

This follows the claim earlier this year in the Motor Industry Advisory Board report that for every 1 paid out in compensation another 40c goes on legal costs.