Compensation Claims to the Injuries Board Remain Stable
The number of compensation claims to the Injuries Board remained stable throughout 2014 according to figures released in the organisation´s annual review.
During 2014, 31,576 compensation claims to the Injuries Board (2013 – 31,311 claims) resulted in 12,420 assessments being accepted (2013 – 10,656 accepted assessments) resulting in a total award value of €281.2 million (2013 – €243.5 million).
The discrepancy between the two year´s acceptance rates (2014 – 39% / 2013 – 34%) is attributable to a large volume of compensation claims to the Injuries Board being received towards the end of 2013 which were not resolved until 2014. The Injuries Board reported a slight decrease in the length of time it took to process an injury claim.
The annual review also revealed a slight decrease in the average assessment of an injury claim (€22,642 from €22,847), although there was a significant increase in the average value of a claim for an injury at work (€32,134 from €28,886). The largest single assessment was made for a claim for an injury at work – €972,898 being related to an employer liability claim.
Commenting on the figures contained within the annual review, Patricia Byron – the Chief Executive of the Injuries Board – said: “While the volume of new claims stabilized last year, the increase in the number of awards made by the Board is a clear indication that more respondents, typically insurers, are opting to engage with our low cost claims resolution service and recognize the real value of avoiding unnecessary and costly litigation where uncontested claims are concerned”.
Ms Byron continued: “2014 was an important year for us as we marked a decade in operation. As a result of our journey, personal injury compensation is now delivered in 7 months and at a processing cost of 6.7%, compared to almost 3 years and a cost of 58% for litigated claims. With over €1 billion in savings delivered to date and a ten year track record behind us, the benefits of non-adversarial claims resolution are unequivocal.”