‘No justification’ for rise in insurance premiums

There is no justification for increases in insurance premiums as accident rates in Ireland remained stable in 2013, the head of the Injuries Board has declared.

Patricia Byron, chief executive of the Injuries Board, claimed there was no basis for any increase in the cost of motor, public liability or employer’s liability insurance as the cost of processing claims had fallen from 8.7% to 7.3% of the overall value of awards in 2013.

In its latest annual review, the Injuries Board reported that it had paid out 243.5m in compensation for personal injuries last year — up from €218m in 2012, an 11.7% increase.