According to the report published today, the board received a total of 8,989 cases during the period from January 1 to June 30, 2022. If this rate continues, the total number of cases received this year will be much lower than the number received in 2021, the board said.
The assessment service provided by PIAB is an alternative to litigation and saves all parties money and worry.
The research states that the average PIAB award acceptance rate improved over the course of the six-month period, reaching a high of 48% in June.
The entire average compensation amount over the course of the six months was €14,786, which is 38% less than the rate prior to the introduction of the Personal Injuries Guidelines in April 2021.
The standards specify the maximum general damages that may be granted for various types of personal injury.
When making awards, the PIAB and the Courts must both take the guidelines into consideration. If the criteria are not used to make an award, they must state why.
As claimants and respondents grow adjusted to the new Personal Injuries Guidelines, PIAB CEO Rosalind Carroll stated, "PIAB expects to see this increased acceptability trend continue."
The research released today "clearly shows that the recommendations are having an impact, even though it will take some time to fully understand the consequences of the standards, particularly in regards to reductions in legal costs and litigation," she said.
The Alliance for Insurance Reform has urged the government to "get serious" with the insurance business in response to the study.
Peter Boland, director of the Alliance, said, "We applaud today's findings from the PIAB indicating dramatic decreases in the total number of personal injuries claims, the average compensation, and the numbers of claimants moving to litigation."
"Liability insurers are pocketing these advantages, and the Government needs to get serious with them to make sure that the benefits are passed on in premium reductions to SMEs, voluntary and community groups, charities, and sports and cultural organisations striving to keep costs down," he said.
