News Release--Personal Injuries Award Value Report

Injuries Resolution Board publishes Personal Injuries Award Values Report

The Injuries Resolution Board has today published its  Personal Injuries Award Values Report for the first half of 2023.

The report provides an overview of nearly 5,000 assessments of compensation made by the Injuries Resolution Board for non-fatal personal injury claims between January to June 2023.

In a change to previous award reports, in this instance the Injuries Resolution Board has compiled and presented both median and average award values to provide a more detailed analysis of compensation trends across periods.

• The first half of 2023 saw a 16% increase in the number of claims submitted to the Injuries Resolution Board compared to the same period in 2022. By the end of the year this increase stabilised at +10%, however, total claim volumes in 2023 were 35% lower than the volume in 2019.

• For the first time, the Injuries Resolution Board are sharing median award values alongside average award statistics to better track trends in personal injury compensation over time. The median award value in 2023 was €11,150, a 39% reduction on the median award value of €18,422 in 2020. The average award value was €17,248, a 28% decrease on 2020 figures.
• Injury award values saw a slight increase in the first half of 2023, with recent legislative changes driving this trend. The Injuries Resolution Board continue to retain and assess more complex injury cases, with the number of awards made for moderate and serious injuries up from 15% of awards in 2021 to 21% in the first half of 2023.
• The first half of 2023 saw the highest level of engagement with the Injuries Resolution Board, with 71% of respondents agreeing to the assessment of claims. The award acceptance rate also reached its highest level since the introduction of the Guidelines, at 48% in the first half of 2023, up from 44% in 2022, and remaining stable throughout the year.

The profile of injuries assessed by the Injuries Resolution Board is evolving:

• Our research highlights a reduction in the proportion of awards related to minor neck and back injuries, from 47% in 2021 to 39% in the first half of 2023.
• At the same time, awards related to psychiatric damage injuries have increased, now accounting for 1 in every 8 assessments, up from 1 in 20 awards in 2021.

Injuries Resolution Board Chief Executive Rosalind Carroll said:

"For the first time, The Injuries Resolution Board are sharing median award values alongside average award statistics in a report of this nature. This allows us to better track trends in personal injury compensation over time while having greater data overall ensures that we can further support our stakeholders in decision making.

“The first half of 2023 also saw the highest level of engagement with the Injuries Resolution Board, with 71% of respondents agreeing to the assessment of claims, while the award acceptance rate also reached its highest level since the introduction of the Personal Injuries Guidelines as we continue to see their impact.

Behind every claim, is a person, and The Injuries Resolution Board’s job is to offer them and the respondent party to a claim, a fair and impartial service that both can trust and that allows everybody to move on. In doing so we also remove a lot of costs, significant time and stress. The continued improving engagement with the Board shows the significant impact we can have together and the potential for more savings that could help both claimants, and make Ireland a more competitive place to live and do business in.”

ENDS

About the Injuries Resolution Board:

The Injuries Resolution Board is Ireland’s independent State Body which resolves personal injury claims. The organisation was originally established in 2004, as the Personal Injuries Assessment Board (PIAB) to support the fair, prompt, and transparent resolution of personal injuries claims without the need for unnecessary litigation. From the 14th of December 2023 the remit of the organisation was broadened, and its name changed to reflect the introduction of new services such as mediation. It is a self-funded public body and is a key pillar in contributing to reform of the insurance sector and the personal injuries environment. The state body generates millions of euro in savings which would otherwise be spent on processing claims, leading to higher costs for policy-holders. The Injuries Resolution Board is the independent state body for personal injury claims resolution in Ireland.