Claims process reforms - An update
Much has been speculated and written about the impending changes to procedures for personal injury claims handling. The new processes aim to reduce administration, paperwork and legal costs.
How effective will they be? No-one can say with any certainty until the changes have had a chance to bed in. Implementation of the reforms has recently been postponed from 6 April to 30 April, but even this leaves little time for the various parties to be fully briefed and ready to go.
A new standardised electronic portal is being set up to facilitate transmission of information between solicitors and insurers.
There will be a new legal costs structure, covering most RTA claims up to £10,000 in value. There may be some cost savings (insurers opinions vary on this point). However, there will be a negative cash flow effect as both damages and costs will have to be paid much earlier than previously.
The biggest impact on brokers is likely to be the stringent timescales imposed for insurers to decide on liability. They will have just 15 working days in which to admit or deny liability. It is vital that brokers and their clients are prepared for quick (and sometimes difficult) decisions to be made. Speedy and effective communication between insurers, brokers, fleet managers, drivers, witnesses etc has never been so important.
Up to now insurers have been keeping their cards close to their chests as to how they will deal with the changes in practice. Expect further announcements as the deadline (only 34 working days away) approaches.
At www.claim-compensation.co.uk we anticipate no changes to our business model. We believe there will still be a need for full information to be gathered and the procedures fully explained to claimants. We believe our committment to personal service will be more important than ever in what could be a turbulent period ahead. Our solicitor panel have reiterated their full support. We seek to increase and improve our commitment to providing brokers and their clients with a first class service for all their personal injury, ULR and replacement vehicle requirements.
www.claim-compensation.co.uk, a trading title of Assert Services Ltd, is regulated by the Ministry of Justice in respect of regulated claims management activities.
At www.claim-compensation.co.uk our professional, personal service, centres on you and your needs. To find out more about how you could benefit from our personal injury service call 0800 358 0791 or make a personal injury compensation claim online
www.claim-compensation.co.uk Suite 3D, Joseph's Well, Hanover Walk, Leeds, LS3 1AB
All content on this website is © Assert Services Ltd 2012
www.claim-compensation.co.uk is a trading title of Assert Services Ltd and is authorised and regulated by the Financial Services Authority and by the Ministry of Justice in respect of regulated claims management activities. Its regulation is recorded on the website www.claimsregulation.gov.uk
