PIAB generates savings, but how much?
The claim that the PIAB system has saved up to €250 million for the economy needs closer analysis, write Jonathan Ilan and Colin Scott
The Personal Injuries Assessment Board (PIAB) awarded compensation totalling €217 million to 8,845 personal injury claimants last year - with an average payout per claim of €24,552 - according to data released last week.
However, a PIAB claim that the new personal injuries system has generated direct and indirect savings of between €200 million and €250 million for the economy since its inception in 2004 deserves further scrutiny.
This figure appears to have been calculated by multiplying...
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