Leitrim based insurer supports rejection of near 17 percent rise in personal injury award

Leitrim-based insurance company Brady Insurance, with offices in Carrick-on-Shannon and Dublin, has welcomed the decision not to proceed with the proposed 16.7 percent increase in personal injury award guidelines.

“A steady, predictable claims environment, where legal costs are appropriate, will encourage competition and new Insurer entrants and on that basis this decision is to be supported,” said Jane Brady, Managing Director of Brady Insurance.

“It also recognises the broader impact such an increase would have had on insurance affordability for families, small businesses, rural communities, and voluntary organisations already under financial pressure.”

She emphasised that while fair compensation is essential and must reflect the real lived-in cost of injury, there must also be a balance to protect consumers from rising insurance premiums.

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“A near 17 percent increase would likely have reversed the hard-won progress made in recent years to reduce the cost of cover – progress which has stemmed in large part from the implementation of more consistent, moderate personal injury awards,” she added.

Ms Brady is calling on all insurers to continue passing on cost savings from reduced court and IRB (Injuries Resolution Board) awards directly to policyholders, stressing the industry’s responsibility to deliver value for money.

“We continue to advocate strongly for the Injuries Resolution Board (IRB) process, which offers a faster, lower-cost route to resolving injury claims,” she explained.

She highlighted that the IRB benefits both claimants and insurers by significantly reducing reliance on costly litigation.

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“Future reviews of the guidelines should be data-driven, aligned with robust analysis, and benchmarked against comparable European systems.

“We believe that a five-year review cycle is appropriate to ensure measured, evidence-based adjustments that reflect both medical and economic realities,” Ms Brady concluded.