Insurers challenged on premium reduction

EIGHTY percent of applicants to the Personal Injuries Assessment Board (PIAB) decided to use solicitors to assist them in processing their claims.

Dick O’Driscoll of Hibernian Insurance (Irish Examiner, May 18) seems to ignore the fact that it is the fundamental right of any individual to seek legal advice on any issue that significantly affects his or her day-to-day life.

It is the right of the taxpayer to brief an accountant to deal with his or her tax affairs. It is the right of a home-builder to brief an engineer to apply for his or her planning permission. In each case the individual seeking the assistance of the professional will discharge the expense incurred in so doing.

It is the professional duty of every solicitor to advise a client as regards a PIAB award in terms of the client’s best interests.

However, Mr O’Driscoll did not address the one billion euro profit made by the insurance industry in the last 12 months from overall savings on underwriting liability claims.

The legislation setting up the PIAB did not provide that these savings should be reimbursed to hard-pressed premium-payers. Perhaps Mr O’Driscoll would specify how the insurance industry proposes to repatriate this enormous profit to the public.

Perhaps our legislators could ensure that these profits be reflected in major premium reductions proportionate to the savings made by the insurance industry from the drop in claims.

Frank Kelleher

High Road

Cobh

Co Cork