Time to reduce the burden of personal injury claims report 2016

Ibec has published a report Time to reduce the burden of personal injury claims highlighting the burden that excessive judicial awards and a litigation culture are putting on Irish companies. The report states that across a range of minor injuries, Irish compensation guidelines are typically double that of the UK - and Irish court judgements are often far higher than the guidelines.

In quarter one of 2016, Ibec conducted a large scale member survey on employer and public liability insurance costs with 367 companies participating. Motor or commercial fleet insurance and professional indemnity were deliberately excluded from the survey. Employer liability and public liability account for 40% of claims lodged with the Injuries Board and the findings of the survey can be seen in the attached report.

Based on the findings of the report, Ibec has called for urgent action to rein in the rising cost of personal injury claims, which is putting pressure on insurance premiums and risks feeding into higher consumer prices.

Time to reduce the burden of personal injury claims Report.pdf - 428 Kbytes

Friday, 22 July 2016