Insurance payouts fall, but premiums are still too high – Doherty

The Personal Injuries Assessment Board says a reduction in awards and their value should make insurance premiums cheaper for consumers and businesses.

Compensation paid out by the board fell by almost a quarter last year, while the Courts Service reports that personal injury actions were down 12 per cent.

Sinn Fein says serious questions will have to be asked if premiums don’t fall in line with the reductions, which it says hasn’t happened in the past.

Their finance spokesperson, Pearse Doherty, says consumers should receive ‘euro for euro’ the savings insurance companies make from reduced payouts………..

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