Personal injury claims increase

A report from the Actuarial Profession states there has been a rise in the number of people making a personal injury claim after a road accident shown by insurance analysts.

Traffic incidents decreased by 11% but personal injury claims increased by 18%, which may cost the insurance industry £400m a year.

Firms are making a fair amount of money from ‘no win no fee’ cases so the government are looking to introduce new laws to limit the amount they can make.

The legislation was announced in March 2012 by Justice Secretary Ken Clarke, to stop lawyers from claiming “success fees” from the losing party, so they would take an amount from the damages instead.

Another benefit from the legislation is to stop insurance companies from passing people’s details onto third party sites.

The reason for fewer motorists is due to the high prices at the petrol pumps resulting in fewer journeys, and the more people involved in the accidents are making claims for instance whiplash.

The BBC legal correspondent Clive Coleman said, the report continues from an earlier report, which shows a connection between claim hotspots, and the location of claim management companies for example personal injury in Kent.

Brought to you by our friends at Kent Compensation.

August 22, 2012 · Editorial Team · Comments Closed
Posted in: News