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The future of personal injury litigation and the effect of personal injury lawyers are at stake after the Association of British Insurers (ABI) has continued to express concern to accelerate much-needed reform of the system.
The ABI published a consultation document over a year and are still anxiously awaiting a substantive response from the Ministry of Justice. The ABI suggested imposing a system fixed rates, making them the task of investigating insurance cases and increase the limit of fast track cases from £ 15,000 to £ 25,000.
The ABI is the trade association for the insurance industry in Britain. Its member companies provide over 90% of insurance business in the UK. Represents insurance companies for the government, and regulatory agencies and others, and is a powerful voice in public policy and issues of financial services. ABI members companies with the capacity for a sixth of all investments traded on the London Stock Exchange, on behalf of millions of pensioners and savers.
Research in the document Consultation held that claims for injuries after a traffic accident had an average of two years to resolve, with three years on average for loans rather than work. This time frame was deemed unacceptable and to help moderate these problems, the ABI suggested that insurers should be able to investigate the claims at first instance, so that when it admitted liability, they could move immediately to the negotiation of the agreement.
Personal injury lawyers, in particular, were convicted by reference to pay high rates of claims management companies. The report recommends that the reduction of legal costs was the key to delivering a fairer and a more efficient system.
Moreover, it was suggested by the ABI which has become an increasingly worrying trend that a person has been injured going to a lawyer who is an enormous amount of unnecessary studies, before putting the claim anywhere near the insurer which increases the time interval.
ABI critics have suggested that the recommendations are simply a cost reduction exercise and have no significant effect
Although the ABI has been eager for news of the government as promised changes, the government has already drawn plans to improve the process and the ABI is keen to see implemented, so that complaints can be resolved quickly.
Under the new proposals, personal injury lawyers would have five days after being contacted by a claimant in which to notify insurers of a potential claim.
Insurers would have 15 days in the case of a motor claim and 30 days for a workplace or public liability claim to decide whether or not going to solve.
About the Author
Saurav is an author of several articles pertaining to No Win No Fee, Compensation Claims, Personal Injury Claims and other legal articles.
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