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Conor Faughnan Discusses Motor Insurance Crisis on RTÉ Conor Faughnan Discusses Motor Insurance Crisis on RTÉ

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Conor Faughnan Discusses Motor Insurance Crisis on RTÉ

Published 13th September 2016Read Time 2 min

AA Director of Consumer Affairs, Conor Faughnan appeared on Claire Byrne Live Tonight on 12 September to discuss potential reforms to address the motor insurance crisis.
Following an appearance at the Oireachtas Joint Committee on Finance, Public Expenditure and Reform,  The discussion again focused on the need to address fraud and the random nature of personal injury court awards as a means of reducing premiums.
While 20% of personal injuries claims are dealt with by the Personal Injuries Board, approximately 70% of claims result insurers agreeing to out of court settlements. As a result of attempting to avoid going to court, insurers are likely to award higher payouts than what the Personal Injuries Board has suggested, which further undermines the validity of the board and its effectiveness.
Among the reforms which the AA would like to see introduced are the updating of the Book of Quantum, improvements in the technology provided to Gardaí to tackle uninsured drivers, and the establishment of a shared information database between insurers to reduce fraud. Currently fraud adds approximately€50 to each premium in Ireland.
The updating of the Book of Quantum, currently due to be published later this month, would help to better regulate personal injury payments and give more credibility to the Personal Injuries Board. Furthermore, as a result of rising motor insurance costs, there is an increased risk of uninsured drivers on Irish roads with Gardaí lacking the necessary technology to tackle this issue.
You can watch the full broadcast here.