April 27, 2015

Injury Claim Premiums Rising; Government Still At Work

Category: Politics — Tags: , , , – admin @ 6:38 am

Despite the falling number of car accidents and road-related injuries in the past few years, personal injury claims are still rising. The costs of insurance premiums have risen because of exaggerated and fraudulent claims. About 8 in 10 drivers are making injury claims for injuries. Because the injury is self-reported and requires no medical evidence, the insurance industry is actually losing more than £2 billion yearly for a typical insurance policy.

Prime Minister David Cameron has met with several insurers and stakeholders of the industry and have announced government support and help in bringing down the rising premiums of the market. The new measures might include tackling questionable medical evidence and challenging insurance companies to challenge seemingly-fraudulent cases.

The members of Parliament have reported that a 70% rise in motor injury claims in the past six years while having a drop of 23% in car accidents is not proportional and there is “something wrong” with the insurance system that is leading to inflated premiums and losses.

The government plans to ban referral fees that insurance companies, lawyers and claims management companies charge each other for passing the information around. The £1200 lawyer’s fee for small value personal injury claims would also be reduced.

The group of insurers are proposing that UK be under a similar measure from Germany, where a car traveling at 10km/h is the threshold for a valid injury compensation claim, two medical check-ups will be required and having a pool of individual experts who can examine the claims and give recommendations.

May 30, 2012

Is a Compensation Culture Bad? I Don’t Think So

The United Kingdom my country and I’ve learned to love the country as long as I’ve been born. I lived in Cardiff with my parents and then moved to London when I was older. My parents always taught me to value my own right as a person and it is always correct to assert your opinions, let others argue with you and accept their opinion if they can prove it correctly.

I recently read about compensation culture in Wikipedia today. Also considered as Tort reform, it allows anyone who suffered personal injuries to seek compensation for the damages. The compensation culture is heavy in criticism nowadays especially from political entities. Like my parents always said to me, it’s very important to assert your arguments. Of course you can claim to be the injured party if you have injuries and of course you can claim for compensation for such. That’s justice for the little people, like me.

I don’t really get it why there are people against having compensation for injuries. But maybe its also because of those people who fake their injuries. I suggest that authorities tighten their observations about the causes of injuries or diseases. But for every injury wrought by an offending party, compensation should always be received by the injured party.

Earning compensation is the right of the injured party. To say otherwise is senseless and illogical. If you were the injured party in one point in your life, you will need compensation. The damages you received from the injuries will need expensive medical treatment and may have permanent effects in the future. It is not the citizen’s fault but the authorities in managing the compensation system in the country.

Do leave a comment if you disagree with me :)