Cost of litigation 22 times higher than going through Injuries Resolution Board [Video]

The Alliance for Insurance Reform, a business representative group against high insurance premiums, has highlighted the exorbitant legal costs seen in personal injury claims.

As per data from the National Claims Information Database (NCID), a Central Bank initiative, there is little difference in the average amount settled through litigation (€23,458) compared with the Injuries Resolution Board (IRB) (€23,122) in H1 2023.

However, the group highlights that the legal fees for litigation (€22,803) is more than 22 times greater than through the IRB (€1,024).

Tracy Sheridan, a group member and owner of two play centres, said that the data showed the “effectiveness of the Injuries Resolution Board”, especially when “resolving claims” and “providing fair awards”.

“In most cases, the only ones that benefit from settling though the litigation channel are the legal profession. While it is positive to see an increase in claims settled via the Resolution Board, the number of cases being settled via litigation remains stubbornly high (72%).

“It …