The Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor TD, has today (Wednesday, 5th October 2016) welcomed the publication of the Book of Quantum which provides general guidelines for the amounts that may be awarded in personal injury claims related to road, public place and workplace accidents.
Commenting on the Guidelines Minister Mitchell O’Connor said “this should have a stabilising effect on compensation awards across the market and bring consistency and predictability to the cost of processing personal injury claims. In order for the economy to grow, and maintain competitiveness, it is vital to address insurance costs. Universal application of the revised Book by all stakeholders will bring consistency in settlements. This should reduce the volume of litigation and help reduce the cost of insurance. This measure supports the work of Minister of State Murphy on the Cost of Insurance Working Group, aimed at tackling increasing insurance costs. ”
The publication was commissioned by the Personal Injuries Assessment Board and compiled by independent consultants Verisk Analytics. The Guidelines are based on an analysis of compensation awards from Court cases, insurance company settlements, State Claims Agency cases and data relating to awards of the Personal Injuries Assessment Board.
It constitutes solid research on prevailing levels of damages in personal injuries claims.
The publication is available at www.injuriesboard.ie.