June 24, 2011

An impressive one in four RTAs now results in a bodily injury compensation claim according to the cumbersomely named Institute and Faculty of Actuaries. This represents a very healthy improvement from the pitiful ratios of the mid-noughties, when barely one in ten accidents triggered a claim for compensation.

The  IFAs this week unveiled the findings of their working party on motor insurance claims – during which, between eating cakes and jelly, pinning tails on donkeys etc, they picked their way meticulously through vast swathes of insurers’ claims data.

The disappointing news, however, is that the upward trend in accidents per policy has begun to slow, suggesting a real danger that the past year’s 20% rise in the number of UK claims management companies may not be sustainable.

There are also concerns that the MoJ’s fast-track low-value claims-handling process may be limiting opportunities for the legal profession. The IFAWPOMIC report found that the cost of settling injury claims has not risen at all in over a year and that minor claims are being settled with worrying rapidity.



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Jo was friendly while still professional. She answered any questions and was patient and happy to help. Next steps and cover confirmation could have been a bit clearer. I've had calls from credit hire that I was expecting for replacement bike but they were pushing to do repairs. I was told this would be done by an approved repair. I called just after 9am to notify a claim and was told I would receive a call back within 10 to 15mins. I had to call back an hour later as no one had called back. The lady who answered, Jo, did deal with things straight away and was very helpful
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