The board’s annual report for 2023 shows that 71 per cent of respondents consented to an assessment, the highest since its establishment in 2004, while the acceptance rate rose to 48 per cent, the highest since the introduction of the guidelines in 2021.

Meanwhile, the number of claims submitted rose by 10 per cent in comparison to the previous year, primarily driven by a 14 per cent increase in road traffic accident claims, but total claim volumes remained 35 per cent lower than in 2019.

The board has separately published an awards value report for the second half of 2023, which takes a closer look at personal injury trends offering a comprehensive analysis alongside full-year figures.

The median award value for H2 2023 was €12,212, some 34 per cent lower than in 2020 before the guidelines were introduced. Nearly two-thirds (61 per cent) of claims are now valued at under €15,000, compared to 30 per cent of claims in 2020.

There has been some increase in median and average award values, driven by changes in the type of injuries being assessed, in addition to an increase in special damages or out of pocket expenses, such as loss of earnings (up +49 per cent on 2020 values), reflecting the wider inflationary environment.

In second half of 2023, the percentage of severe/serious injury awards was more than twice that of 2021, increasing from two per cent to five per cent of claims. At the same time, the percentage of claims for minor injuries reduced from 86 per cent to 76 per cent.

Welcoming the reports, Dara Calleary, minister of state for trade promotion, digital and company regulation, said: “As the impact of the personal injuries guidelines continues to strengthen, we can see the positive effect reflected in the record levels of engagement with the Injuries Resolution Board.

“The increase in consent and acceptance rates demonstrates that we are making meaningful strides in the insurance reform agenda by reducing litigation costs and providing fair, efficient resolutions for personal injury claims at a difficult time in someone’s life.

“These results are a testament to the effectiveness of our collective efforts to create a more stable insurance environment for the benefit of the economy and society alike. I want to see all this transformative change passed onto business and consumers via reduced premiums.”

Dermot Divilly, outgoing chair of the Injuries Resolution Board, said: “We are at a critical juncture where a suite of reforms have been delivered. We must ensure that the guidelines are supported through every channel, that structures are put in place to give mediation a chance to succeed, and data is utilised to inform decision-making.”

Injuries Resolution Board CEO Rosalind Carroll said: “The publication of these reports further highlights how significant a year 2023 was for the Injuries Resolution Board with the launch of mediation and our highest level of engagement with claimants and respondents since our establishment resulting in savings of €75 million in avoided litigation costs in 2023.

“The impact of the introduction of the guidelines can be seen from our reports. It is important when looking at changes in claims values in Ireland, not just to focus on average awards values but the decline in the number of claims being made, with total claim volumes remaining 35 per cent lower than in 2019 and the total value of compensation awards now €105 million lower than 2019.

“As we celebrate our 20th anniversary in 2024, these results further underscore our commitment to delivering fair, efficient resolutions while adapting to the evolving environment shaped by the Personal Injuries Guidelines.”