The new reforms by the Ministry of Justice have been applauded by the Association of British Insurers with speedily justice to road traffic accident personal injury claims. The new reforms are applicable to the injury claims between £1,000 and £10,000 as more than 80% of the personal injury claims will come under this category.
For quite sometime the insurer’s body was campaigning for speedier and simple as well as cost effective option of personal injury claims. With new changes, the average time took for average settlement time will now be between nine months to two years. Now the claims occurring after 30th April 2010 will come under this new changes and legislation.
With challenging time limits of legal representatives and insurers will ensure speedy progress of the claims. The insurer will have to decide on the liability of the injury claim within 15 working days of the notified claim.
The standardisation of the claim form will now reduce the additional money spent on the duplication of the legal fees and information. This way the 10% of the motor premium used for such expenses will also reduce and the car insurance owners might see some decrease in the car insurance policy premium charges.
The director of general insurance and health of ABI this initial step of reform will ensure that the claimants get benefited by the speedier as well as simple compensation process. This process will cover even the employers’ liability insurance claims.
If you check the car insurance policies through car insurance comparison site then most of the quotes favor this new legislation and help the insurance owners to get quick claim. The reduction in claim cost expense will further reduce the insurance premium charges so the car insurance owners will be benefited by it also.
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