Posted: September 26th, 2016
After many years of criticism, a new Book of Quantum to be published that will provide new guidelines to those settling compensation settlements for personal injury claims.
The Book of Quantum, first published in 2004, is a reference text used by judges, solicitors and insurance companies when settling a claim for compensation. The book contains a wide range of injuries, and with each provides estimates of the amount of compensation to be awarded in each case. It also has subdivisions to account for the severity of the injury and the degree of permanence.
Yet over the intervening decade many have claimed that the book has become outdated and no longer facilitates the award of fair settlements. An increasing number of solicitors and judges no longer use the book, or when they do they only use the highest values presented. Consequently, inconsistencies result.
To take action against the unfair system, senior judges began negotiations with the Courts Services and the Injuries Board with the hope of establishing a new Book of Quantum. A team analysed over 52,000 personal injuries claims made in Ireland between 2013 and 2014 and used the data to create new estimates. The revised Book of Quantum will be published in the coming weeks, and many hope that it will help resolve current inconsistencies.
Amongst other things, new subdivisions have been introduced so that those settling claims can award more fair and appropriate settlements. Additionally, the estimates have been adjusted to account for inflation and the current cost of living.
It is important to note that the Book of Quantum only accounts for physical injuries, but potential claimants may also be compensated for emotional trauma, financial loss or impact on quality of life. It is best to consult an experienced solicitor before commencing any claim for compensation.
Categories: Accident News