It has been announced that the Government will be asked this week to set up a taskforce to examine the soaring costs of motor insurance. This is a welcomed announcement. Customers continue to be hit with huge increases in their motor insurance premiums. Recent commentary from Government Ministers seem to suggest that so called “high “compensation awards were to blame for the soaring premiums and there have been proposals mooted to reduce awards. While it is a desirable objective to lower premiums, it should not be on the back of innocent victims. It is hoped that the call for a task force will be accepted and proper consideration given, not only to the compensation awarded in these claims, but to the profits made by Insurance Companies, and seeing whether or not, if these profits were reduced, the premia that the hard pressed motorists pay might be reduced.
Following a weekend of tragic fatalities on our roads yet again, I suggest that focus be had on the causes of serious accidents and whether there are steps that can be taken by our new Government to reduce these causes. Also regard might be had to taking account of the victims of road traffic accidents and whether or not the award they received is indeed “high”. Clearly we all want to pay less for our insurance but do we want to do it at the expense of the victims?
Contact us at Cantillons Solicitors at +353 (0)21 -4275673 or [email protected] if you would like more information.
* In contentious business, a solicitor may not calculate fees or other charges as a percentage of any award or settlement.
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