Editors Notes
Editors' Notes
Key Facts
1. Three out of every four PIAB awards have been accepted
2. PIAB has delivered the same level of awards as under the litigation system.
3. Delivery time of PIAB awards is approximately three times faster than under the litigation system.
4. Delivery costs under PIAB are four times cheaper than under the litigation system.
Litigation Costs 2003 (source: MIAB Report 2004)| Compensation (€m) | Litigation Overheads at 46% (€m) | PIAB costs at 10% (€m) | Potential Savings at PIAB rate of 10% (€m) |
|---|
| €392m | €180m | €39m | €141m |
5. Savings
a. Actual Savings of €1 million achieved on PIAB's first awards totalling €2.7million
b. Projected Savings as per diagram below
Projected PIAB Savings on 1,000, 6,000 and 15,000 claims
(At current acceptance rate of 75%, at current compensation levels and at PIAB cost of 10%)
1000 Awards
Compensation €11.2m
PIAB costs €1.1m
Litigation €5.1m
Savings €4m
6,000 Awards
Compensation €67.7m
PIAB costs €6.7m
Litigation €31.1m
Savings €24.4m
15,000 Awards
Compensation €169.2m
PIAB costs €16.9m
Litigation €77.8m
Savings €60.9m
6. Impact on Court System
Number of Personal Injury High Court Writs issued:
2003 - 11,245
2004 - 15,293
- 1st Jan - 21st July - 15,241writs issued before opening of PIAB for all Personal Injury Claims on 22nd July
- 22nd July - 31st Dec - 52 writs
2005 YTD - 297 writs
- Figures for the Circuit Court include Personal Injury, Commercial etc.claims and no breakdown is available for Personal Injury claims
Number of Personal Injury Court Awards| | 2003 | 2004 | 2005 |
|---|
| High Court | 454 | 492 | Not available |
| Circuit Court | 1,722 | 1,182 | Not available |
Source: The Court Services Annual Reports 2003 and 2004 and the Courts Services