Car insurance claims costs fall again - for sixth year in a row27 February 2018
Thompsons Solicitors has found the net cost of car insurance claims is decreasing, showing that there is no such thing as a crisis in compensation
On the day of today’s ABI conference (Tuesday 27 February), Thompsons Solicitors has analysed data issued by insurers and has found that the net cost of car insurance claims incurred decreased in 2016 for the sixth year in a row.
The figures show a 42% drop compared to 2010, which contradict the insurers’ own assertion of a ‘compensation culture’ which they have used to lobby the government for changes to the law around injury claims, including workplace accidents.
The government proposed legislation in 2016 to increase the small claims limit from £1,000 to £5,000 for road traffic accidents, and to £2,000 for workplace accidents, which means the majority of injury victims would no longer have access to free or affordable legal representation.
Our head of policy, Tom Jones, says that the data proves that insurance companies are deliberately attempting to mislead the public on a supposed ‘crisis’ in car insurance claims in order to boost their own profits.
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