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Tuesday 28 February 2012

Personal injury claims adding £2.4 million daily to the cost of insurance premiums

New figures released this week show yet again that the high volume of personal injury and whiplash claims being made in the UK are putting extra strain on all policyholders as statistics revealed that £2.4 million is being added daily to the cost of insurance premiums, which equates to £30 extra a year to every policy in the country.

It’s estimated that £876 million is being paid out every year in legal fees, with £1,666 being added to the cost of insurance premiums in the UK every minute. The cost of an average car insurance policy now stands at £418 up by 18% in the last year, with legal costs as a result of personal injury claims being blamed for pushing up the cost of premiums.

In many cases, the legal costs often outweighs the amount of compensation won, with one case highlighted this week revealing a £37,250 bill was run up in legal fees pursuing a claim where the compensation won was just £15,000.

Read More - http://www.ladymotor.co.uk/news/personal-injury-claims-adding-2-4-million-daily-to-the-cost-of-insurance-premiums-12740/

Tuesday 21 February 2012

Insurance Bosses Back Cameron Over 'Compensation Culture'

The insurance industry has promised to pass on savings to customers after a cut in personal injury legal fees, Downing Street has said.
At a summit with leading insurers, Prime Minister David Cameron criticised the "compensation culture" and pledged to reduce the current £1,200 fee for lawyers on small personal injury claims.
Insurance bosses committed to ensuring the savings were passed on to the public. The firms also promised to challenge more health and safety claims rather than just paying out.
In a bid to help small and medium-sized firms, the insurance industry also indicated it would provide guidelines stipulating exactly what employers do and do not need to do to comply with health and safety laws.
Concerns have been raised by businesses that they are forced to go far beyond legal minimums to secure insurance cover.

Read More - http://www.huffingtonpost.co.uk/2012/02/14/insurance-bosses-promise-personal-injury-whiplash_n_1276895.html

Tuesday 14 February 2012

David Cameron pledges action to cut car whiplash claims

The government will tighten the rules on car insurance to reduce claims for whiplash and bring the cost of premiums down, David Cameron is to say.

As he hosts a meeting in Downing Street with insurance, consumer and business groups, the prime minister will say he wants to stop "trivial claims".

Insurers say whiplash claims cost their industry £2 billion a year and add £90 to the average annual bill.

They want to see a minimum speed below which a whiplash claim can be rejected.

Number 10 said Britain had become "the whiplash capital of Europe", with 1,500 claims a day for even the most minor accidents.

www.injuryclaim-specialist.co.uk
Read More - http://www.bbc.co.uk/news/uk-politics-17025155

Tuesday 7 February 2012

Whiplash injuries can be avoided: IAM

Whiplash claims have recently been identified as the as the biggest factor in pushing up insurance premiums.

Rear-end shunts are the most common accidents and, since many rear impact accidents result in a neck or spinal injury, these are often linked to personal-injury insurance claims.

But, says the Institute of Advanced Motoring, as with all aspects of your driving, there are things you can do to reduce your chances of being a victim of or indeed causing a whiplash injury.

Making sure you have a properly adjusted head restraint is very important. The head restraint should be level with the top of your head for maximum safety. Take a moment before each journey to check that your head restraint is still at the correct height, especially if you're not the only person who uses the car.

Too high is as bad as too low. And always make sure your passengers do the same too, no matter how old they are.

Thursday 2 February 2012

Compensation scheme to be overhauled


Victims who suffer sprained ankles, broken toes or bruised ribs would no longer be entitled to compensation under Government plans, Kenneth Clarke said today.

The Justice Secretary said the plans would see payouts target the most serious injuries and prioritise high-quality practical help, rather than helping those with relatively minor injuries.
Mr Clarke also said the compensation scheme would be extended to help British victims of terror attacks abroad.
Under the proposals, rapists and murderers will no longer be able to claim compensation for being victims of crime under the taxpayer-funded Criminal Injuries Compensation Scheme (CICS).

Read More - http://www.independent.co.uk/news/uk/crime/compensation-scheme-to-be-overhauled-6297148.html