On 15 February, the Department of Finance (DOF) published a press release providing an overview of the Cost of Insurance Working Group's report on motor insurance. Recommendations contained in the report include:
- the establishment of a Personal Injuries Commission to examine how personal injuries claims are calculated;
- the creation of a National Claims Database by mid-2018 to identify cost drivers in this area;
- the creation of a database that would enable the Garda to identify uninsured drivers using Automatic Number Plate Recognition;
- introducing more granularity to the book of quantum; and
- improving data sharing to identify patterns of suspected fraud through the creation of an industry funded database with independent oversight.
The DOF also set out its plans to investigate the cost of employer liability and public liability insurance in the next phase of its work to address increasing insurance costs in Ireland. This report will focus on personal injury data and information, the effects of litigation processes on insurance costs, current claims compensation arrangements and the impact of unlawful activity on insurance sector.
A link to the Report on the Cost of Motor Insurance is here.
The DOF's press release can be accessed here.