The average personal injuries award payment has dropped by €10,000 since new guidelines were introduced.
The new rules were introduced in April, to clamp down on the soaring cost of claims and rising insurance.
Average awards by the Personal Injuries Assessment Board dropped by 40 per cent in the first five months after they were brought in.
The board's chief executive, Rosalind Carroll, says millions of euro has been saved;
"We've assessed over 2,600 claims and if you just took that average of nearly 10,000 reduction on each award, that's coming to an overall saving on that period in terms of a reduction award values of €25 million."
Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD:
“Nearly half of all awards are under €10,000 – last year, only 12% were under this amount. This is based on a much larger sample than our previous figures. I expect this dramatic drop in award levels to be reflected in reduced premiums for individuals, businesses and volunteer groups and Government will continue to work with the insurance sector to make sure this is the case.”
