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24/09/2021

Personal injury claims in Louth drop from 2019, with claims body expecting a reduction in premiums

Personal injuries claims down in Louth

Personal injury claims have dropped in Louth

There were over 300 successful personal injury claims in Louth in 2020, according to the Personal Injuries Assessment Board’s (PIAB) latest annual report.

The PIAB report shows that there were a total of 333 successful personal injury claims in Louth during 2020, which is a drop from the 458 reported in 2019.

According to the PIAB, the drop in claims was driven by the ongoing Covid-19 pandemic, with a nationwide 16% drop in the number of claims.

There was a total of 26,009 personal injury claims recorded by the PIAB in 2020 nationwide, with a total compensation payout of €206 million.

Compensation paid out in 2020 saw a €70 million drop compared to 2019.

Chief Executive of the PIAB, Rosalind Carroll says that the drop in claims and drop in claims payouts should lead to reduced insurance premiums for people across Louth and the rest of the country.

“Claims costs are reducing significantly due to lower volumes and lower values and this new environment is ripe for premium reductions,” said Mrs Carroll.

“Our claims data shows claims numbers are down sharply, while we also know Awards are already 50% lower in recent months, as new award guidelines take effect.

“It is important that we do not just concentrate on award values – to ensure a fair system for claimant, respondents, and society we need to ensure faster and cheaper ways to resolve claims. 

“PIAB has proved it can do this, but we need to do more of this and the government commitment to enhance and reform our services is just as critical to insurance reform.”

According to the PIAB, Motor Liability claims continue to be the largest category of claims across the country, with 14,137 motor claims in 2020.

6,058 awards were issued in relation to these claims, with an average award of €22,357.

Public Liability claims, where claimants suffer an injury on a premises that they believe is liable for that injury, totalled 6,823 last year.

There were 1,426 awards given out, with the average claim award totalling €26,065.

The Minister of State with responsibility for PIAB, Robert Troy said that addressing the cost and availability of insurance is a priority for the government, and that he wants to enhance the role of PIAB with legislation.

“Addressing the cost and availability of insurance is a priority for me and for the Government,” said Minister Troy.

“The actions completed to date under the Action Plan for Insurance Reform are already having an effect with an average 50% reduction in awards arising from the Personal Injuries Guidelines.

“Strengthening and enhancing the role of PIAB is a key priority for me and I am currently considering legislative proposals to achieve this.

“I believe our proposals will deliver real reform to reduce the cost of litigation and ultimately, premiums.”

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