Huge claims shake up proposed to help Irish insurers

A leading business group is calling for a slashing of award levels for minor personal injury.

Isme wants cuts of 80% to take the insurance crisis, says the Irish Independent. 

Damages for soft-tissue injuries are 4.4 times higher than in England and Wales, according to Personal Injuries Commission in Ireland. 

For example, a soft-tissue injury would be slashed from a typical €15,700 payout to €3,140.

A report by Justice Nicholas Kearns, who heads the Personal Injuries Commission, found award level differences between here and Ireland are unjustified. 

High award levels encourage fraud. 

No action has yet been taken on the report in July last year. 

The Irish market has been plagued by troubles in the last year.

Irish insurer Surestone pulled out, triggering a Lloyd’s player with A-rated capacity to step in to help.