A new study released today has found that the Personal Injuries Assessment Board (PIAB) delivers the same level of compensation to victims as a claimant would get if they went through the courts.
The study also found the PIAB to be three times faster and four times cheaper on average.
The study by Dr Vincent Hogan and commissioned by the PIAB, estimated that since March 2005 the PIAB has reduced the cost of processing personal injury claims by a total of €24 million.
The Minister for Enterprise, Trade and Employment Micheál Martin said the report vindicated the Government's decision to set up the PIAB.
"It is less than two years since the PIAB made its first award. Already it has established itself and has proved its worth. This cost benefit analysis conclusively demonstrates how the decision to set up the PIAB has served the public well," Mr Martin said.
PIAB Chairperson, Dorothea Dowling said she hoped more people would resolve their claims by using the PIAB.
"In the vast majority of personal injury cases, there is no dispute about the facts so consumers can save time and money by going to PIAB directly," Ms Dowling added.