Short Memories and the PIAB
Consumers will not find it hard to recall the exorbitant costs of their insurance – especially motor – only a couple of short years ago. Confusion and illusion were always a part of the problems that maintained insurance premiums high but – without any doubt – it was the cost of claims and the utterly ridiculous awards that accompanied them that guaranteed our premiums were outrageously high.
Then came the PIAB which changed that scenario – for the better!
Why is it therefore that we hear only negative aspects put against what are, in reality, positive and progressive results that benefit consumers?We likely need to look to those who do not benefit for the answer.There is no need to trawl through the figures again. It is results that count and they are:
Cases Settled – Faster and Cheaper – with awards that reflect Reality
And
Reduced Premiums – That should reduce Significantly More
The important questions that require answers are: From the Insurance Industry regarding the delay in passing on those PIAB gained savings and – for those with short memories
From the legal profession as to why it took so long to resolve cases and at such outrageous fees prior to the establishment of the PIAB
CONTACT:
Dermott Jewell : 01 – 497 8600
Consumers’ Association of Ireland
43-44 Chelmsford Road,
Ranelagh
Dublin 6.