The Alliance for Insurance Reform is calling on the government to get serious with the insurance industry.
It follows confirmation there has been a reduction in the number of personal injury claims and compensation paid out.
The number of personal injury cases is down 34% in the first six months of this year according to the Personal Injuries Assessment Board.
While the overall average compensation award is 38% lower than the rate before the Personal Injuries Guidelines were introduced in April 2021.
Stephen Watkins is the Director of corporate services at PIAB...
"We have seen some drops in motor premiums in the last number of years."
"But as our report shows the volume of claims continues to drop, the average award has dropped by about 40%."
"Based on what we're seeing, things are going in the right direction."
"You would expect that it's ripe for premiums to fall."
Not Falling
However the liability insurance premiums are not falling, and Peter Boland from the Alliance of Insurance Reform says it's time for the Government to step in...
"Liability premiums are going up!"
"They continue to track up by about 16%."
"Frankly, this response from the insurance industry is damaging the credibility of the Government's reform process."
"It is time for Government to get serious with the insurance industry."
The Alliance of Insurance Reform say if liability costs don't come down, then a lot of small businesses will struggle to survive.
