Ireland Urges Insurers To Pass Along Payout Cut Savings
Law360, London (April 26, 2021, 3:26 PM BST) -- The government of Ireland has urged insurers to pass on savings to customers after the introduction of changes that will cut personal injury payouts on claims.
Minister for Justice Helen McEntee said on Saturday that she hoped insurers would "follow through" and cut the price of insurance for customers, adding that the government would monitor the situation closely.
The statement came as new guidelines for personal injury compensation were introduced, setting for courts across the country lower limits for insurance payouts.
The guidelines form a key plank in a wider government effort to drive down the cost of insurance for both...
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