PIAB Year End Review 2007
Press Release 20th February 2008
PIAB Year End Review 2007:
Awards Volumes Increase By 47% As Total Awards Exceed €180million
Sustainable Cost Savings Target Of €40million Per Year
Same Award Levels But 4 Times Faster And 70% Less Cost Than Courts
Compensation totalling €181million was awarded in respect of 8,200 personal injury claimants in 2007 according to preliminary year-end data from PIAB, the Personal Injuries Assessment Board. Awards were made at the same level as the Courts but four times faster (more than two years quicker) and at a 70% less delivery cost. This has resulted in cost savings of €40million in 2007 with no diminution in the value of awards.
PIAB 2007 Highlights:
The average PIAB award in 2007 was €22,057. The highest Award to an individual claimant was €620,000 and the lowest award was €1,000. PIAB awards reflect the current level of Court awards. Both PIAB and the Courts make awards having regard to the Book of Quantum - a guide to compensation levels for particular injuries. Counties Limerick and Louth accounted for the largest number of awards as a proportion of population. Kilkenny had the lowest number of awards per head of population. (A complete county by county guide is available from the "Note for Editors" link below).
PIAB, delivered savings of c. €40million in 2007 and expects to achieve similar levels on an annual basis. This should feed through to lower insurance premiums for consumers. In 2007 PIAB handled over 50,000 telephone calls and 350,000 postal items. The Injuries Board continues to operate on a self-financing basis and maintains customer satisfaction levels in excess of 95%.
"During 2007 PIAB reached full flow activity and the sustainable benefits of the non adversarial model are now clear" according to Patricia Byron, Chief Executive PIAB. "PIAB is not just faster and more efficient but Claimants benefit from awards at the same level as the Courts whilst avoiding the stress of a Court appearance, this is not to be underestimated".
"PIAB continues to deliver and better meet the changing needs of consumers. For example, 2007 saw an increase in allowances for medical costs based on a case by case assessment of claimants' needs rather than a flat fee approach. PIAB also extended the circumstances in which vulnerable personal injury claimants may be allowed additional fees and expenses.
"Finally, a legislative amendment introduced in the latter half of 2007 should reduce the number of unnecessary and costly Court trips. As a result of the amendment, claimants who reject PIAB awards but subsequently fail to secure higher awards in Court are liable for the legal costs arising" Ms Byron said.
PIAB also confirmed that its 2008 plans include increased public awareness and enhanced user friendliness for consumers, including improved online access to PIAB.
Ends
Personal Injuries Assessment Board
Sorcha Coady 01 463 4551 / 086 803 2926
Editors Notes