£600m lost in personal injuries claims, says SFA

The Small Firms Association (SFA) has called on the Government to overhaul the system of compensation dealing with personal injuries…

The Small Firms Association (SFA) has called on the Government to overhaul the system of compensation dealing with personal injuries. According to SFA chairman Mr Kieran Crowley, an estimated £600 million (€760 million) is lost by small businesses each year in meeting the cost of personal injuries claims. "Within Ireland, employers and public liability insurance amounts to over 2 per cent of payroll costs on average. The equivalent figure in other European countries is 1 per cent," he says.

The SFA wants a new system which will eliminate "exaggerated, spurious, trivial injury claims" and which will contribute toward a substantial reduction in overhead costs. It is calling for the establishment of a personal injuries tribunal which would result in the early settlement of claims, reduce legal costs and improve the system for compensation in genuine and un-exaggerated cases of personal injury.