Insurance Ireland welcomes the announcement that Cabinet has approved the publication of the General Scheme of the Personal Injuries Resolution Board Bill (This new legislation should enable PIAB to significantly enhance and extend its services.
Insurance Ireland and our members continue to strongly support the Action Plan for Insurance Reform and believe that the reform of PIAB is a fundamental element for its success.
The General Scheme proposes to amend the Personal Injuries Assessment Board Act 2003-2019 to increase the number of personal injury claims settled through PIAB and to avoid the expense and time associated with litigation.These new measures will extend PIAB’s services to include mediation aimed at resolving personal injuries claims that are currently resolved through a much more costly and lengthy litigation route.
Moyagh Murdock, Chief Executive of Insurance Ireland said “Insurance Ireland welcomes the announcement that Cabinet has approved the General Scheme of the Personal Injuries Resolution Board Bill. We have continually advocated for strengthening of the powers of PIAB as a means of reducing legal costs in the claims settlement process. A more stable sector, delivered through Government reform, can reduce market volatility and bring more certainty for consumers, businesses and insurers alike.
The PIAB Reform is an essential element for the Action Plan for Insurance Reform. Insurance Ireland hopes that the government will also swiftly publish proposeed amendments on the Duty of Care and Occupiers’ Liability Act. We believe that this actions will be key drivers in ensuring that these measures are reasonable, practical, and proportionate for businesses and claimants alike.