TWO out of every three insured motorists believe that the value of compensation paid out in Ireland is too high while two per cent of 1,000 adults surveyed by the Irish Brokers Association (IBA) believe compensation awards are not high enough.
The survey, which assessed adults views on the motor insurance industry, found that while Ireland is one of the worst offenders in Europe for above average pay-outs when it comes to motor insurance claims, 66 per cent of the general public are not in favour of the practice
The main finding, according to the IBA is that car insurance pay outs should not be bigger than those paid out in other countries.
The report confirms that Ireland is the “whiplash capital” of Europe with whiplash accounting for four out of every five claims.
The figure contrasts that of France where whiplash accounts for just 3 per cent of all claims where payouts are almost three times those of other countries.
The Irish Brokers Association survey found that the €15,000 average pay out for whiplash; 9 per cent said it was “About right”, 2 per cent said “We should pay more than other countries”, 66 per cent believe “We should not pay more than other countries” and 23 per cent responded “Don’t know”.
Ciaran Phelan CEO of the IBA said that the survey demonstrates public sentiment on the issue and encouraged that the work of the Government continue to overhaul the industry.
“People want the value of awards to come down because they believe that this would have a positive impact on reducing the cost of motor insurance – an issue that almost every motorist in the country is currently battling.”
