The average personal injury award paid out in the first six months of the year has halved under new guidelines issued by the Government to lower the cost of insurance.

The first implementation report of the Action Plan for Insurance Reform published in December 2020 shows 50% of actions have been implemented.

Among the key reforms was new personal injuries guidelines. Preliminary data from the Personal Injuries Assessment Board (PIAB) shows 78% of awards are now €15,000 or less, up from 30% in 2020.

Insurance costs

Tánaiste and Minister for Enterprise, Leo Varadkar said: “We published this plan to bring down the cost and increase the availability of insurance for businesses, consumers and community and voluntary groups.

“It’s early days, but there are signs that personal injury awards are falling – by around 50%. This is as a direct result of the new Personal Injuries Guidelines. We expect this dramatic drop to be reflected in premiums over the next year and we will be following this up with insurance companies.”

Marts are among the businesses worst affected by rising insurance premiums.


There are a total of 66 actions in the Government plans to make Ireland’s insurance sector more competitive.

Other actions delivered to date include:

  • Legislation to strengthen the laws on perjury has been enacted.
  • Legislative proposals to enhance and reform PIAB have been developed.
  • An office to promote competition in the insurance market has been established.
  • The scope of the National Claims Information Database has been widened to cover employer liability and public liability, with a first report in this area due next month.
  • Legislative reform

    The Tánaiste said the Government was committed to doing more to reduce insurance costs.

    “In the coming months we will implement an ambitious programme of legislative reform to strengthen PIAB and the CCPC. We will also enhance the National Claims Information Database, look to publish more frequent data and develop measures in relation to fraud and occupier’s liability,” he said.