Cutting out unnecessary litigation

The new Personal Injuries Assessment Board (PIAB), which is due to come into operation in the new year, should speed up the settlement of insurance claims by avoiding unnecessary litigation that has been seriously inflating the cost of insurance and clogging up our courts.

This should bring down the cost of insurance premiums by about 35%.

In 1986 legal fees comprised 15% of the actual cost of a settlement, but that figure now stands at around 40%.