Latest Expert Witness News

Personal injury claims affect car insurance prices

The spiralling legal costs from personal injury claims are having a huge impact on the cost of insurance, with 10% of every car insurance premium which is taken in by the industry going out to pay for legal fees. The Association of British Insurers said that during the past year 80% of the 250,000 car accident personal injury claims were straightforward and non-contentious, but despite this it still took an average of 730 days to settle them.

Because so much money was being poured into the legal system it had to be replaced somehow and the ABI said that it was Car Insurance Premiums which were rising as a result of the long lead times on claims. Recent increases in Car Insurance Premiums which are affecting thousands of British drivers would seem to substantiate this and it is important that processing times on accident claims are made shorter if we are ever to see a drop in this year's sky-rocketing car insurance prices.

back