Minister Troy welcomes injury awards benchmarking report and says further insurance reform must continue
- Foilsithe: 2 Meitheamh 2026
- An t-eolas is déanaí: 2 Meitheamh 2026
Minister of State at the Department of Finance with responsibility for Financial Services, Credit Unions and Insurance, Robert Troy TD, has today (2 June) welcomed the publication of the Society of Actuaries in Ireland Injury Awards Benchmarking Report.
Welcoming the report, Minister Troy said:
“I welcome the publication of this benchmarking report by the Society of Actuaries in Ireland. It is a timely and important contribution to the national discussion on insurance costs, personal injury awards and competitiveness.
The report shows that reforms are having a positive impact. Injury award levels in Ireland have decreased following the introduction of the Personal Injuries Guidelines in 2021, and the median award value through the Injuries Resolution Board fell by 29%.
However, more remains to be done in this space to bring award levels in line with other jurisdictions. Under the Action Plan for Insurance Reform 2025-2029, I am pleased to see progress in the drafting of the Judicial Council (Amendment) Bill 2026 to support a more robust process for the review of future Guidelines. Further work is also planned to examine the level of awards in minor/moderate personal injuries and the feasibility of introducing a cap for certain categories and a dedicated model for the resolution of minor soft tissue injuries. These actions, along with strengthening the role of the Injuries Resolution Board, will enhance the sector and provide certainty to consumers and businesses.
The report finds that, despite reductions in award levels, the average cost per policy of third-party injury claims in Ireland remained significantly above UK levels in 2024, at €205 in Ireland compared with €135 in the UK. It also highlights that legal fees remain a major driver of the cost gap between the two jurisdictions.
The findings from the report align with the Action Plan for Insurance Reform 2025–2029, which recognises that while there has been significant progress in insurance reform, some sectors still face challenges with affordability and availability.
Speaking on the Action Plan for Reform, Minister Troy noted that:
“Government is firmly committed to further action to help drive down insurance costs for households, motorists, businesses and community organisations. This is a question of both fairness and competitiveness.”
The Action Plan for Insurance Reform 2025-2029 provides a clear roadmap for the next phase of reform, including measures to strengthen transparency, improve affordability and availability, tackle legal costs, support the work of the Injuries Resolution Board, increase competition and combat fraud.
My focus, and the Government’s focus, is on ensuring that the benefits of reform are felt – consumers need to see these reforms reflected in more affordable premiums, greater availability of cover and a fairer, more predictable claims environment.”
ENDS
Notes for Editors
- The Society of Actuaries in Ireland Injury Awards Benchmarking Report was published on 2 June 2026.
- The report states that injury award levels in Ireland have decreased following the introduction of the Personal Injuries Guidelines in April 2021.
- The report finds that in 2024 the average third-party injury claims cost per policy was €205 in Ireland, compared with €135 in the UK.
- The report also finds that the cost difference is driven by both higher compensation levels and higher legal fees, and highlights legal costs as one of the key drivers of higher claims costs in Ireland.
- The Government’s Action Plan for Insurance Reform 2025–2029, published in July 2025, sets out six key pillars for further reform: transparency and affordability; competitiveness and availability; legal reform; fraud; climate protection; and innovation and skills.
- Between 2016 and 2024 Ireland’s motor insurance index declined by around 40%, in contrast to increases in the Eurozone and UK during the same period.
- The split between damage and personal injury within overall claims costs has adjusted. Personal injury share has dropped from 72% to 44%. This highlights the impact of the insurance reform agenda on reducing personal- injury claims since the adoption of the Guidelines in April 2021.
- However, the latest data from the National Claims Information Database (NCID) for private motor claims in H1 2025 shows:
- motor damage has risen from 28% to 56% reflecting inflationary pressures and the increased costs in fixing damages.
- litigated cases under €100,000 legal costs are now 21 times higher than those paid under the Injuries Resolution Board [€18,446 vs €892]
- the timeframe for settled claims through litigation with a court award is significantly longer that those settled through the Injuries Resolution Board [4.7 years vs 2.5 years], with the level of awards not being materially higher
- Where legal costs are apportioned to where they are concentrated, they represent nearly half the total claim cost (47 percent).