Board set to cut insurance costs, says Harney

THE Government's insurance reform programme is on target to reduce insurance premia, Tánaiste Mary Harney said yesterday.

Publishing the Public Injuries Assessment Bill (PIAB) Ms Harney said the board, which aims to reduce the costs of delivering compensation by speeding up the claims process and eliminating the need for expensive legal fees, was a key element in reforming the insurance sector.

"By eliminating the need for litigation costs where legal issues are not in dispute, the PIAB will significantly reduce the cost of delivering compensation," Ms Harney said.