Personal Injuries lump sum compensation-lump sums system criticised.
An economist speaking in Dublin recently criticised the merits
of lump sum settlements as opposed to structured settlements.
The speaker Colm McCarty called for a debate on a change from the current system
where a victim of an accident gets a lump sum for their injuries and where relevant a sum to cover future loss and expenses and called for a debate on the concept of a structured settlement.
Structured settlements are common in a number of European countries and involve the victim getting an initial payment followed by an annuity.
Whilst a debate is to be welcomed on the subject the question may victims might ask would be who would manage their ‘lump sums’?
In light of recent economic conditions insurance companies and financial advisers would have some distance to go to win the trust of victims that their investment skills could meet this task.
The challenge for insurance companies will be the fact that cases could not be ‘closed off’ for many years leading to additional administration costs into the future.
The debate is an interesting one and one certainly set to run for some time.
In the meantime it goes without saying that prudent investment of settlement monies is essential for all victims of accidents in order to ensure that the resources are available to fund potential future expenses.
Paul Tracey
November 2009
Fatal Accidents – legal entitlements
In the case of a person suffers personal injury of such degree that they die of the injuries where liability (or fault) would lie in favour of the injured person, namely, where some otherperson is at fault for the injuries, the injured person’s right of action for compensation for pain and suffering ceases with the death of the injured person.
However, in these cases, under the Civil Liability Act 1961, a right of action continues, on the death of the injured person, in favour of the dependents(relatives) of the deceased person.
The method for the assessment of damages will differ from those applicable to a claim for ordinary personal injuries.
Instead, damages are calculated by reference to the Civil Liability Act in the sum of €25,394
Other headings of claim can be added to this namely financial loss to the dependents of the deceased person, arising from the death.
Loss arising from the absence of income would make up, by and large the greater share of this loss.
Funeral and travel expenses are recoverable.
In such cases the settlement of any such cases must be approved by the courts.
If you’d like further advise on this topic please contact Paul Tracey Solicitors at 01 8745656
or e mail law@traceysolicitors.ie
Personal Injuries
Injuries Board report shows average public liability award to injured persons was €22,865
The Injuries Board has reported that during the two year period from January 2007 to December 2008 it made 2,859 awards in public liability claims cases. The Board awarded compensation totalling €65,400,000. The average award was €22,885. This compares with an average award of €20,792 to PL claimants in 2007.
In a report issued recently- A Review of Public Liability Awards 2007 & 2008 – the Injuries Board gave details of:
- awards
- location of accidents
- causes of accidents
- type of injury suffered.
The average award was €22,865.
Most awards were for less than €38,000, the upper limit of awards the Circuit Court can make.
While only 0.5% of awards were for over €100,000, that in fact means that 14 awards of €100,000 or more were made by the Board.
Over 350 awards (12.5%) of between €38,000 and €100,000 were made.
Thirty-two percent of awards (914) of between €20,000 and €38,000 were made. Fifty-five percent (1,572) of all awards were for less that €20,000.
Over a quarter of all awards (27%) were made against local authorities in relation to accidents in public places under the control of local authorities.
Nearly a quarter of all awards (24%) were made in respect of accidents in retail and shopping outlets. The other locations of accidents were:
- hotels, pubs, clubs, restaurants (19%)
- leisure facilities (13%)
- transport/utilities (6%)
- education and health establishments (4%)
The remaining 6% of accidents occurred in a variety of locations, including construction sites and car parks.
A remarkable 67% of the accidents were caused by slips, trips and falls.
The other causes of accidents were flying/falling objects (11%),
-injury caused by machinery (5%), cuts (3%),
-burns/scalds, assaults and animals (each 2%),
-one percent each for poisoning and reaction.
-the remaining 6% were attributed to other causes.
The review shows that many accident victims sustain at least two types of injury. The most common injuries suffered are sprains (40%), bruising (32%), fractures (29%), lacerations/cuts (25%) and injuries classified as superficial (10%).
Four percent of awards were for psychological disorders, with crush, intracranial, dislocation and burns each accounting for 2% of injuries.
Seven percent of injuries are classified in the other category.
Given that many of those injured suffer from one or more of the types of injuries listed, the total adds up to 155%.
The review reports that 70% of awards were made to women and while people of all ages suffer accidents, half of all awards went to people aged over 45.
The report provides a valuable insight for workplace owners, drivers and local authorities as to where there focus should be in an effort to prevent such accidents.
Paul Tracey solicitors has specialised in the provision of assistance to injured parties for over 20 years,it’s principal welcomed the publication of the report of the injuries board data which was hitherto unavailable from the court services
Paul Tracey
7th August 2009
