The Central Bank of Ireland today published the national claims information database, NCID, liability insurance report. It is one I have been very much looking forward to seeing just to see what impact all the reforms the Government has been doing are having on our insurance premiums. We see that insurance companies have recorded a 10% profit margin on liability insurance in 2024.

However, liability insurance premiums have increased by 23% since 2020. Premiums are going only one way and that is up. In many cases legal fees match awards. If there are two people, one going through the litigation channel and one going through the personal injuries board, they are both getting the same compensation but one is paying hundreds in legal fees and one is paying thousands in legal fees. Every unnecessary euro spent on litigation is a euro taken away from wages, community services and local investment.

The following is a mad statistic. In 2024, the average compensation payout through the Injuries Resolution Board was €25,484 and the legal fees were about €694. If someone went to the resolution board, they paid €694 in legal fees and got €25,000 in compensation. Through litigation, the payout was €25,900, so about €300 more, but the legal fees were also €25,000. So, it cost €694 through the Injuries Resolution Board or €25,000 in legal fees by going through litigation.

I really urge the Leader to ask the Minister to come in and debate three things with us. First, can we do a massive media campaign to push people to go through the Injuries Resolution Board? Second, can we get a straight answer from insurers as to why their profits are up but premiums have risen by 23%? How is that? Third, what is our plan to cap legal fees? I have just read out those figures - €694 through the Injuries Resolution Board compared with €25,000 through litigation - yet 70% of people are still claiming through litigation.