New law 'will lead to insurance premium rises'

The Insurance Industry Federation has warned that premiums will rise if the Court and Court Officers Bill is passed into law.

The bill, which is before the Dail today, proposes to raise the level of awards in the Circuit and District Courts to €100,000 and €20,000 respectively, more than doubling the current limits.

The Insurance Industry Federation claimed this would lead to increased costs, which wouldl be passed on to the consumer through insurance premiums.

Insurance firms have called for awards levels to be linked to the Consumer Price Index, rather than the limits contained in the bill.