Call for Faster Personal Injury Claims Processing
ABI Calls for a new system to deal with personal injury compensation
13th December 2005
The Association of British Insurers (ABI) has called for a new system to deal with personal injury compensation claims.
The ABI would like to replace the current adversarial court system with an arbitration process for all claims up to £25,000, with cases settled in 6 months or less and court action taken only as a last resort if no agreement can be reached.
It's estimated that the average claim takes up to 3 years to be settled under the current system, with around £2bn a year in legal fees shared by insurers and claimants.
Under the new proposals, there would also be a public scale of compensation levels for various specific injuries, and financial penalties for both claimants and insurers if they were judged to be making frivolous claims or wasting time in settling.
Read More: BBC: ABI calls for faster compensation
Home - General Finance - Personal Injury Claims
