With personal injury compensation claims continuing to soar, UK motorists are likely to face insurance premium rises of up to 40% in 2011.
Evidence presented to the Transport Select Committee by a leading actuarial consultancy (EMB), points towards tackling the rising fraud which “remains the major factor in motor insurance price rises”.
The EMB report highlights Accident Management Companies, with an array of dubious practice and erroneous fees, as a major contributor to the problem. It revealed that in 1990 20% of all UK motor insurance costs were attributed to personal injury claims, while in 2010 the figure stands at more than 50%.
Personal injury solicitors hit back
In rebuttal to the EMBs’ findings Personal injury solicitors, who are involved in a significant number of the claims, have pointed the finger of blame at insurance companies’ aggressive practice of pursuing people involved in accidents with their clients , as well as their identified practice of seeking to nullify their own policy holders’ no-claims bonuses.
If you live in London it is likely that you have seen some of the highest premium rises in the UK. Should you require clarification of how these matters may affect your rights or insurance premiums, you should contact Rollingsons Solicitors, London personal injury solicitors, for advice.
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