PIAB LEADS TO IRISH LEGAL EXPENSES BOOST

The Arc Legal team regularly provides media comment on relevant issues. Below is an extract from an article published in the insurance trade publication, Post Magazine, on Arc Legal’s growth in the Irish legal expenses market.

Arc Legal director Richard Finan told Post the company has increased its market share to 20% of motor vehicles in Ireland within two years of entering the market. He said the deal was the result of increased demand for legal expenses insurance since the introduction of the Irish Personal Injuries Assessment Board Amendment Act 2007.

“If there is any dispute over liability, the claim is taken out of the PIAB and generally taken to a solicitor Also, claimants may decline the PIAB’s offer and take the claim to court in the hope of a higher settlement,” Mr Finan said.

“Following the Act, if the claimant is unsuccessful in beating PIAB’s offer, they will have to pay their opponent’s legal costs as well as their own.”

The full article can be found at www.postonline.co.uk