Minor injury compensation cap sought to reduce premiums
Minister for Enterprise Peter Burke is seeking to put a maximum compensation cap on the amount that people can claim in minor injury cases.
Minister of Enterprise Peter Burke is proposing to introduce a maximum compensation cap for minor injury cases in order to lower insurance premiums. The idea forms part of a broader insurance reform strategy.
Burke has asked the Attorney General for legal advice on the matter. He believes that compensation costs in Ireland are excessively high compared to other countries.
This issue was brought up recently during a Cabinet sub-committee meeting focusing on insurance reform. England and Wales implemented a similar cap last year, limiting compensation claims for whiplash and soft tissue damage lasting up to 24 months. The cap now stands at £4,975.
In contrast, Ireland's average award from the Injuries Resolution Board for minor damages is €9,693. However, only about 40% of these awards are accepted. The rest lead to court proceedings, where most insurance companies settle cases, resulting in higher overall costs.
Burke argues that the proposed cap would address this issue, applying to both the Injuries Resolution Board and court awards.
Written by urgent.news from RTE News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
