Insurers are continuing to take advantage of motorists
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An article in the Association of Personal Injury Lawyers' PI Focus in September is a stark reminder of how motor insurers are benefiting from changes in personal injury litigation but are not passing on the benefits to drivers by way of lower premiums.
Since the introduction of fixed costs in road traffic claims and the limits on the cost of medical reports which can be obtained, according to the Association of British Insurers, motor insurance companies have saved £518 million on personal injury motor claims in 2015 alone and since 2013 motor claims have fallen by 6%. Further, the ABI have confirmed that insurance premiums have increased by a staggering 10% in the last year. Historically, the reason often cited by insurers for justifying premium increase is the cost of personal injury litigation.
Further changes to personal injury litigation are possible with removing the right to damages for pain and suffering in whiplash claims and raising the small claims limit to £5,000. According to APIL, the insurance industry is apparently offering the prospect of premium reduction if these further changes are introduced.
I have previously commented on the reasons why I consider the proposed banning of general damages for whiplash claims is unjust, and from the statistics I have now read I am extremely sceptical as to whether drivers will see any reduction in premiums should these proposed changes be introduced. If the current trend continues then motor insurers will get richer and motorists poorer, which was never the Government's intention when overhauling the road traffic injury procedure.
Our personal injury team at BL Claims Solicitors are experts in helping people who have been involved in road traffic accidents, if you would like to discuss a potential claim please contact us for a free consultation.
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