PIAB awards rose sharply last yearWednesday 20 February 2008 12.57
Preliminary figures from the Personal Injuries Assessment Board (PIAB) show that awarded €181m to 8,200 claimants last year. The value of awards was up 56%, while the number of awards was 47% higher.
The average award was up 7% at just over €22,000, with the highest single award €620,000.
The PIAB was set up in 2004 with the aim of allowing certain classes of personal injury claim to be settled without the need for the costs associated with the courts.
The body claims it is four times faster and 70% cheaper than the courts in making awards.
Chief executive Patricia Byron says a legislative amendment introduced last year should reduce the number of unnecessary court trips. The change means that claimants who reject PIAB awards but fail to secure higher awards in court are liable for the resulting legal costs.