Injuries Board compensations up 8.3pc to €118m in first half of 2013
Road traffic accidents continued to account for the lion’s share of personal injury claims, new figures from the Injuries Board show.
They accounted for three quarters of the awards in the first six months of 2013 in a period when total compensation increased by 8.3pc to €118m.
The board today has launched a new smartphone app which features an interactive claim investor and information on how to access its services.
The board made its highest ever compensation award of €976,000 at a delivery cost of €6,000 (0.6pc) in this particular case, compared to an average litigation cost of €536,000, representing a saving of €530,000.
Commenting on the figures today, Injuries Board chief executive Patricia Byron, said the body continues to focus on cost-savings.
“Given the link between claims volumes and insurance premiums, the Injuries Board monitors claims volumes very closely,” she said.
“Despite double digit increases in the first half of 2013, claims volumes slowed in the third quarter and a continuation of that trend could see full year volume increases being pared back to about 5pc - on par with prior years.
“On this basis and given a 30pc reduction in the Board’s processing fee to respondents (mainly insurers), we see no basis for insurance premium hikes at this time.”
A small number of exceptionally high awards in the period pushed up the average award to €22,349, from €21,502 in 2012.