General Insurance Article - Committee Report is a claimant lawyer shopping list


Commenting on the Justice Select Committee report on the Small Claims Track (SCT) limit, James Dalton, Director, General Insurance Policy, ABI, said:

 “The conclusions in today’s Justice Select Committee report on the Small Claims Track (SCT) limit read like a shopping list of asks from the claimant lawyers. If accepted, these recommendations would achieve absolutely nothing in terms of reducing the number and cost of whiplash-style claims, would allow lawyers to continue to line their pockets and honest motorists would continue to pay higher car insurance premiums as a result. In addition to every £1 paid in compensation to claimants, claimant lawyers get nearly 50p.

 “Access to the justice system is important and the fact remains that under the Civil Liability Bill, compensation for whiplash claims will be fixed and a portal is being developed to facilitate access for people to make a claim with the support and guidance they need to do so.

 “We remain confident that our data provides a reliable and transparent indication of the levels of claims fraud detected by insurers and we are happy to work with Government and other stakeholders on this issue”.  

Back to Index


Similar News to this Story

US insurers leading the AI arms race
New research from leading Insurtech provider, hyperexponential (hx), reveals that while insurers are energised by the potential of artificial intellig
Hurricanes and earthquakes could lead to USD300bn losses
Following the long-term annual growth trend of 5–7%, global insured natural catastrophe losses may reach USD 145 billion in 2025, mainly driven by sec
FCA set to launch live AI testing service
The FCA is seeking views from firms about how its live AI testing service can help them to deploy safe and responsible AI, which will benefit UK consu

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.