Study shows PIAB outperforms old systemWednesday 24 January 2007 15.19
An independent study has shown that the state service established to deal with personal injury claims delivers the same level of compensation to accident victims, but faster and cheaper than the old litigation route.
The self-funding Personal Injuries Assessment Board (PIAB) was established in 2003 to reduce insurance premiums and eliminate legal costs.
PIAB CEO Patricia Byron said the people who benefit most are those who have been unfortunate enough to have been injured at work or on our roads.
'They are now assured of a cost-effective system which delivers their rightful compensation within nine months without an unnecessary adversarial contest,' she said.
Commenting on the report, the Minister for Enterprise Micheál Martin said the report shows the Government was right to establish this new means of resolving personal injuries claims and that the resolution of cases through PIAB represents at least an 88% saving compared to the original system.
'This is not just all about time and money. After an accident, the process of pursuing a claim through the courts can be a very burdensome additional trauma', he added.