Alliance for Insurance Reform expresses concern for future of the PIAB
Association calls for urgent and radical reform to strengthen role of Personal Injuries Assessment Board
Print10 November 2020
The Alliance for Insurance Reform has reacted with alarm to the publication of data by the Central Bank which shows the percentage of motor insurance personal injury claims settled by the Personal Injuries Assessment Board has fallen to only 14%.
Eoin McCambridge, managing director of McCambridge’s of Galway and director of the Alliance, said the PIAB’s role has been undermined.
“When the PIAB was launched in 2004, it had a profound and immediate impact on motor insurance costs as was intended,” McCambridge said. “But it has been undermined since then to the extent that far more cases now go to litigation, with no benefit for plaintiffs but enormous fees for solicitors and barristers.”
Peter Boland, director of the Alliance said the issue must be urgently addressed.
“It is up to the newly-formed Government Cabinet Sub-Group on insurance reform to address this issue urgently and radically, before the PIAB becomes irrelevant through no fault of its own,” Boland said.
“We have contacted the Minister of State with responsibility for the PIAB, deputy Robert Troy, to seek an urgent meeting in this regard,” he added.
*(Source: The 14% figure is shown on Figure 13, on page 28 of the Private Motor Insurance Report 2 National Claims Information Database)
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