Editors Notes
Press Release 24th January 2007
The Personal Injuries Assessment Board (PIAB) is a statutory body providing independent assessment of personal injury compensation for victims of Workplace, Motor and Public Liability accidents. PIAB assesses claims three times faster and at a delivery cost that is four times cheaper than through litigation while maintaining the level of awards which Claimants receive. Under the PIAB Act 2003 all claims for personal injury (excluding medical negligence) must be submitted to PIAB.
Key results to date:
PIAB is assessing claims significantly faster than litigation
- Independent Cost Benefit Analysis study shows that it takes on average 9 months from the receipt of a completed application from the Claimant to the Assessment of the claim by PIAB, with 90% of cases assessed within 1 year of completed application.
- All PIAB cases are assessed within statutory timeframes.
PIAB is assessing claims at a lower delivery cost than litigation
- Independent Cost Benefit Analysis study shows that up until October 2006 PIAB had saved over €24 million in litigation costs compared to the litigation system.
- PIAB highlights that from 2007 they will save an estimated €40-€45 million per annum.
- High delivery costs in the past meant higher insurance premiums. The significant reduction in delivery costs through PIAB has lead to lower premiums (CSO/Financial Regulator figures).
PIAB is awarding claims at the same level as the Courts
- Under the PIAB Act 2003 and the Civil Liability and Courts Act 2004 both the Courts and the PIAB are obliged to make reference to the Book of Quantum. The Book of Quantum is based on data from the Courts Services and as a result PIAB Awards correspond to the level of awards in the Court System.
- Common Features of PIAB and Court Awards:
93% of PIAB Awards are less than €38,000 and 89% of Court Awards are less than €38,000 (the small difference of 4% can be accounted for by the fact that the Courts still deal with high value medical negligence cases).
PIAB system has delivered a massive reduction in Court writs
- There were 33,000 average writs each year 2001-2004.
- Writs reduced to 4,000 approximately in 2005.
- Historically, out of 30,000 annual writs less than 3,000 resulted in actual Court determinations with the balance settling outside the Court. The Court determinations have now dropped from at their height of 3,000 per annum to less than 2,000 per annum.
Insurance premiums have dropped
- Motor premiums at lowest levels since the late 1990's (and taking account of inflation are at 1980's levels (CSO figures).
- Similar reductions in liability insurance.