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Culture of personal injury claims threatens to hit company car insurance

27 May 2015 By Digital Curator Leave a Comment

Culture of personal injury claims threatens to hit company car insurance-credence-insurance

Image via Flickr user Pictures of Money

A PLAGUE of personal injury claims is threatening to hit businesses running company cars with the knock-on effect of increased insurance premiums according to analysis by the AA.

For while the motoring organisation noted that a typical annual comprehensive car insurance policy fell over the first three months of this year, it expects this drop to be reversed aided by an on-going personal injury claim culture.

Recent research by the AA showed that 11% of motorists say they see nothing wrong in making a claim for compensation in the event of a no-fault collision even if no injury is suffered.  Connor says this culture is encouraged by cold-calls from claims management firms.

“Despite the premium falls over the past couple of years, the cost of cover remains higher in the UK than in most other European countries, thanks to the claims culture in the UK,” Janet said Janet Connor, managing director of AA Insurance.  “While the number of crashes on Britain’s roads has fallen, the number of injury claims has risen.

“It’s time consumers understood the connection between premiums and making fraudulent claims.  Car insurance is there to protect drivers in the event of a crash, not as an opportunity to cash in.  Insurance isn’t a savings account.

“My greatest fear is that if insurance fraud such as whiplash injury claims isn’t brought under control and quickly, we will see a repeat of the spiralling premiums of 2010 and 2011 when the cost of the average policy rose by over 40% in just 12 months.”

The latest benchmark AA British Insurance Premium Index, which has shown the average Shoparound quote, which uses both direct/broker and comparison site prices, fell by 1% or £5.58, to £530.47.

by Paul Myles

See Full Story on businesscarmanager.co.uk

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Filed Under: Industry Tagged With: car insurance, company car insurance, personal injury

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