The Personal Injuries Assessment Board (PIAB) has announced a an increase of 600 per cent in the number of awards issued last year.
The PIAB was established three years ago in response to concerns about rising insurance premiums as a result of the high legal cost of personal injury claims and the length of time it took to deal with them in the courts system.
It is an independent statutory body which assesses the amount of compensation due to a person who has suffered a personal injury.
In today's statement the body said that it had issued 5,573 awards last year as opposed to just 951 in 2005.
The PIAB has delivered awards in excess of €100 million since its establishment in 2004. The body processes injury claims more efficiently and cheaper than they can be processed through the courts system.
The PIAB said today that it expected to see the processing of claims increase this year by around 3,500 cases bringing the numbers of cases in 2007 to 9,000.
The body said that it expects to deliver €100 million in awards every year from 2008, resulting in annual savings in processing costs of €40 million per annum relative to the courts.