Firms should pass savings to consumers

The chairperson of the Personal Injuries Assessment Board (PIAB), Dorothea Dowling, confirmed the public’s suspicion that insurance companies were not passing on all savings to consumers, despite lower insurance for motorists at present.

She put it rather more diplomatically to the Oireachtas Committee on Enterprise and Small Business yesterday when she said that insurance companies were not allowing consumers to see the full benefit of the savings achieved.

The savings achieved by PIAB have been impressive, including the €1.4 million it saved claimants in legal fees, which is of itself quite substantial.