The Gazette 1989

GAZETTE

DECEMBER 1 9 89

CORRESPONDENCE

to facilitate the introduction of structured settlements in this juris- diction, a number of taxation issues heed to be resolved. Also the underwriting of annuities to cover structured settlement payments is a specialised science, which will take some time to develop. We have already raised the sub- ject of the tax treatment of such settlements w i th the Revenue Commissioners, illustrating the concept w i th examples from the system agreed between the Associ- ation of British Insurers and the U.K. Inland Revenue. We anticipate that discussions will shortly be entered into wi th the Revenue Commiss- ioners on the feasibility of intro- ducing special fiscal arrangements for structured settlements in Ireland.

LAWYERS DESK DIARY 1990

The Editor, Gazette, Blackhall Place, DUBLIN 7.

22nd November 1989

Dear Madam, re: Structured Settlements The " V i ewpo i n t" column in the October 1989 issue of the Gazette, which supports the concept of structured settlements in place of single lump sum compensation for personal injury claims, states that "insurance companies have not shown the slighest interest in remedying the situation". To set the record straight, I would like to inform you and your readers that the Irish Insurance Federation, on behalf of its member companies, transact the vast bulk of motor and general liability insurance business in Ireland, and has been actively studying the concept of structured settlements for some time. In order

Now available from

Yours faithfully, MIKE KEMP,

THE LAW SOCIETY BLACKHALL PLACE DUBLIN 14 Tel.: 7 1 0 7 11

General Insurance Executive Irish Insurance Federation,

Russell House, Russell Court, St. Stephen's Green, Dublin 2.

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Wishing all our friends A very diappy Christmas from att at

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