A total of €168 million was awarded in compensation during 2024, with acceptance rates increasing to 50 per cent from 48 per cent the previous year, the board’s annual report states.

Claim volumes remained a third lower than 2019 levels, a drop attributed to the introduction of the personal injuries guidelines.

The annual report also highlights the successful roll-out of the board’s new mediation service across all liability categories, with resolution times averaging three months.

Last year was also the first full year of Garda compensation scheme claims coming under the board’s remit, with over 500 personal injury claims submitted and an average resolution time of six months.

For a third consecutive year, overall consent rates — meaning how many insurers or respondents have agreed to use the service — were 70 per cent or higher.

Peter Burke, the minister for enterprise, tourism and employment, said: “Today’s annual report from the Injuries Resolution Board clearly demonstrates how the board’s model, since its establishment in 2004, continues to deliver major benefits for Ireland.

“The board’s evolution during this time, including the introduction of the mediation service, shows how it continues to adapt and innovate and to deliver even greater public value.

“I want to commend the board for its on-going work, which last year alone generated savings of €76 million in avoided legal costs.”

Niamh Smyth, minister of state for trade promotion, AI and digital transformation, added: “The Injuries Resolution Board’s work reduces the cost, time and stress for all involved in personal injury claims.

“The annual report clearly shows the substantial reduction in both the cost and volume of injury claims since 2019. The reduction in the cost of settling claims — with awards down by 39 per cent from 2019 — is particularly significant.

“It is particularly positive to see the consent rate from respondents for the board’s process in 2024 was over 70 per cent for the third year in row, demonstrating the trust in the board’s system.

“We need to ensure that as many injuries claims as possible are settled through the board rather than through litigation.”

Rosalind Carroll, the board’s chief executive, said: “2024 marked the 20th anniversary of the board, highlighting two decades of progress in resolving personal injury claims with over €1.2 billion saved in avoided legal costs as a direct result of claims being resolved through the board, with €76 million alone saved in in 2024.

“The enhancement and expansion of our services to include mediation and the Garda compensation scheme increases our potential to resolve a greater number of claims and demonstrates the difference we can make to individuals who have suffered an injury through no fault of their own, and at the same time bring with this savings on both time and costs.

“We exist to offer an alternative to litigation to provide a fair, impartial, non-adversarial route to resolve injury claims in a faster, and less stressful way. We have delivered on this successfully over the last twenty years, with a very different environment today then there was 20 years ago.”

She added: “When looking at 2024 of note is that claim volumes for personal injury remain 33 per cent lower than 2019, and therefore it is important to consider the impact on this in overall value of claims in Ireland.

“In particular, in 2024 there has been no increase in claims in public liability and a five per cent decrease in employer liability.

“In a time where cost is a factor for many businesses and consumers and in an area where cost and availability of insurance has traditionally been a challenge this is a very positive trend.”