New guidelines on compensation for personal injuries may lead to a rise in payouts for certain common injuries.
It's feared this could contribute further to the rising cost of motor insurance, which has jumped by almost 40 percent in the past year.
The Injuries Board has published research on 51 thousand personal injuries cases - which feeds into the new Book of Quantum, which is relied on insurers and judges to decide on how much money to award claimants.
Pictured at the Four Courts at the presentation of the revised 'Book of Quantum' were: Mr Justice Peter Kelly, President of the High Court of Ireland; Joe Pendle, Verisk Analytics, the company who compiled the General Guidelines; and Conor O'Brien, Chief Executive of the Personal Injuries Assessment Board.
Whiplash, which makes up 8 out of 10 claims - has gone up by almost ten percent - rising to 15,700 euro.
The problem here, is that whiplash is notoriously hard to prove - raising fears that such claims are exaggerated.
Below are the guidelines on compensation for whiplash;
Personal Finance Editor with the Irish Independent and former head of the Motor Insurance Advisory Board Dorothea Dowling warning about the cost to all of us of dodgy whiplash claims;The Injuries Board wants to point out that some injuries have increased in value - but some have also fallen.
They say that 35 groups of injuries moved up, while 35 moved down.
PIAB CEO is Conor O’Brien;
Insurers have also responded, with Insurance Ireland saying it's hopeful that the new Book of Quantum can bring consistency to awards but cautioned that more policy responses are needed to address the high cost of claims.
Kevin Thompson,CEO of Insurance Ireland, said;
“Bringing consistency to personal injury awards is the first step in tackling the high cost of claims in Ireland. If this new Book is strictly adhered to by the Injuries Board and the judiciary then we can begin to tackle claims inflation.”
“While its publication is welcome, it is unfortunate that the new Book of Quantum does not internationally benchmark awards. Insurance Ireland is calling for a timeframe for the publication of the next Book and a commitment to internationally benchmark awards – otherwise it will simply reinforce rising claims costs.”
