Compensation Claim

Car insurance costs on the increase

Categories: Compensation Claim,Road Traffic Accident (RTA),The AA | Written by Michael on April 7, 2010

 

Leading insurance provider the AA has claimed that many drivers are now facing annual insurance premiums of more than one thousand pounds as a result of the increasing number of accident claims being lodged.

In the final quarter of 2009, the AA reported a rise of more than seven percent on the average cost of car insurance policies – a record increase over a three month period. This has led to some drivers having to fork out more than a thousand pounds during the course of a year in order to cover their car insurance costs.

The result was even higher on price comparison websites, whose average results turned in a rise of almost thirteen percent on comprehensive insurance cover and third party, fire and theft premiums. Overall, some motorists have (more…)

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Fraudulent whiplash claims

Categories: Compensation Claim,Road Traffic Accident (RTA),The AA | Written by Hilary on February 16, 2010

 

The cost of car insurance has been increasing recently and providers of car insurance are complaining that insurance fraud and whiplash claims are compelling them to make motor cover more costly. It is increasingly important that we distinguish between fraud and legitimate claims.

The Automobile Association (AA) has claimed that it is struggling to make a profit through its insurance arm. For example, Simon Douglas, Director of AA Insurance, told The Times that British drivers were more likely to make whiplash claims than in the past. Mr Douglas stated:

“This is encouraged by personal injury claims lawyers, whose marketing urges people to make claims and whose costs, as well as compensation for the claim, are met by (more…)

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Car insurance hike due to personal injury claims?

Categories: Insurance Companies,The AA | Tags: | Written by Paul on November 7, 2009

 

The AA has recently blamed the personal injury sector for the massive rise in the cost of car insurance in Britain.  According to Reuters news agency, the increase has been the biggest since the AA began its surveys back in 1994.  However, fraud has added significantly to the cost of car insurance.  Although the AA has maintained that the insurance sector is highly competitive, are the insurance firms involved making personal injury compensation claims the scapegoat for the vast bulk of the rise in insurance costs?

There is undoubtedly a lot to be said in favour of the AA’s case.  In 2008, personal injury claims in the UK cost a colossal £9.6 million.  This must have had a huge impact on the insurance sector.  (more…)

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UK insurance premiums hit 15 year high

Categories: Compensation Claim,The AA | Tags: , | Written by Michael on October 23, 2009

 

According to the AA, insurance premiums in the UK have hit a 15 year high in the third quarter of this year. The blame lies with fraudulent personal injury compensation claims, and genuine injury claims.

The result is that motorists are having to pay more for their car insurance because of personal injury lawyers and compensation claims. The average car insurance quote in the last quarter was £821, a rise of 5.6% on the previous quarter. This is also up by 14% on the same period in 2008.

This increase in insurance premiums is the largest seen by the AA since they started their insurance survey in 1994, 15 years ago. Simon Douglas, the insurance director at the AA, stated:

Despite motor insurance being one of the most competitive markets in the UK, insurers have little choice but to put premiums up.

The AA added that personal injury claims are the reason for the insurance premium rises, as £9.6 billion was paid out in 2008 in the UK for compensation claims. Fraudulent claims totalled $1.9 billion in the same year.

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Car insurance costs more because of Personal Injury claims

Categories: Insurance Companies,Personal Injury,Road Traffic Accident (RTA),The AA | Tags: , , | Written by Hilary on August 7, 2009

 

According to the AA, personal injury claims are becoming so common that the cost of car insurance is rising to accommodate the compensation culture in the UK. Car insurance prices are actually rising quicker now than they have done for the last ten years.

The AA state that insurance fraud and false claims are also responsible for the increasing costs of insurance policies.

The AA’s Simon Douglas stated:

Underlying premiums are rising more steeply than they have since 2000 because of rising costs.

There’s no getting away from the fact that the industry continues to suffer underwriting losses, which are predicted to be in excess of £240million this year.

As a result of false claims and personal injury claims, some insurance companies have withdrawn the option of third party insurance, and just 50% of insurance companies say they’ll offer insurance for young drivers under 21 years of age.

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Car insurance premiums set to rise, says the AA

Categories: Personal Injury,Road Traffic Accident (RTA),The AA | Tags: , | Written by Michael on May 4, 2009

 

cars-on-the-roadThis bank holiday millions of motorists will be taking to the roads in search of a day out, resulting in the inevitable delays and accidents on the British roads. It’s prudent then that the AA announced last week that car insurance premiums have risen by more than 1% in the last three months, and are expected to rise further this year.

The British Insurance Premium Index from the AA showed the increase, which represents the first time in years that car insurance premiums have increased in the first quarter. Car insurance premiums have gone up by approximately 11% in the last year.

The AA placed the blame for increases in insurance premiums firmly at the door of personal injury (more…)

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