Don Clarke, member of the FOIL National Committee and Director of Strategy at Keoghs, commented:
“FOIL welcomes the introduction of the Civil Liability Bill as FOIL has always been supportive of the Government’s desire to tackle the number and cost of whiplash claims. FOIL also agrees that a more systematic and rational approach to arriving at the discount rate is overdue and that there is an urgent need to adjust the discount rate to reflect the actual investment practices of Claimants, all the while still maintaining the 100% principle.
“We acknowledge that there is a great deal to do if the Government is to hit the planned implementation date for whiplash reform of April 2019 whilst at the same time preserving access to justice.
“We look forward to assisting the Government along with other interest groups to facilitate that process.”