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Autumn statement - whiplash claims

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Yorkshire Geek
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PostPosted: 19:44 - 25 Nov 2015    Post subject: Autumn statement - whiplash claims Reply with quote

I managed to miss this snippet earlier, apparently the government is to consult on getting rid of the right to claim compensation for minor soft tissue injuries (basically whiplash).

From the FT...
Quote:

“We have quite an extreme compensation culture in the UK, both in terms of the frequency and level of claims,” said Steve Maddock, director of claims at Direct Line. “It’s often said that we have the weakest necks in Europe.”

Aviva, meanwhile, says that it has more than 16,000 suspicious motor claims under investigation, equivalent to 44 claims every day. The insurer says that 80 per cent of UK motor claims are for whiplash and soft tissue injuries, against 3 per cent in France.

Apparently that would be average £50 reduction in car insurance costs with the industry told in no uncertain terms to pass it on to the consumer.

This pleases me greatly.
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ScaredyCat
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PostPosted: 19:46 - 25 Nov 2015    Post subject: Re: Autumn statement - whiplash claims Reply with quote

Yorkshire Geek wrote:
Apparently that would be average £50 reduction in car insurance costs with the industry told in no uncertain terms to pass it on to the consumer extra profit.


FTFY Thumbs Up
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Yorkshire Geek
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PostPosted: 20:40 - 25 Nov 2015    Post subject: Re: Autumn statement - whiplash claims Reply with quote

ScaredyCat wrote:
Yorkshire Geek wrote:
Apparently that would be average £50 reduction in car insurance costs with the industry told in no uncertain terms to pass it on to the consumer extra profit.


FTFY Thumbs Up

The publicity backlash would be horrific, we'd get creamed
Quite frankly, I don't think we need the money that badly.
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arry
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PostPosted: 08:46 - 26 Nov 2015    Post subject: Reply with quote

If it were extra profit it'd be extremely short term. Market dynamic takes care of that - with pricing adjusted real time for all major players there would be the one that jumps first and the rest to follow when they start losing panel share.

The benefit of LASPO is already coming through the book at a decent saving on smaller liability claims and there's negative rate inflation in the market which is still not an overly profitable sector for some. It's not hurting like it did 6 or 7 years ago, but it's marginal return on capital at best in places
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Rogerborg
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PostPosted: 09:37 - 26 Nov 2015    Post subject: Reply with quote

Typical Tories, first the came for the miners, now they're destroying the careers of decent hard working crash-for-cashers. Mad
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andyscooter
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PostPosted: 09:39 - 26 Nov 2015    Post subject: Reply with quote

if I saved £50 on my bike insurance it would cost £17 a year Laughing
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Ribenapigeon
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PostPosted: 17:34 - 26 Nov 2015    Post subject: Reply with quote

Does this mean if I rear end a cyclist (fnaar fnarr) they cant claim for crushing their bolloks on the cross bar?
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UnknownStuntm...
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PostPosted: 17:46 - 26 Nov 2015    Post subject: Reply with quote

Ribenapigeon wrote:
Does this mean if I rear end a cyclist (fnaar fnarr) they cant claim for crushing their bolloks on the cross bar?

Yes but it also means you can't claim when they wrap what's left of their bike round your moonlike.
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grr666
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PostPosted: 21:16 - 26 Nov 2015    Post subject: Reply with quote

https://www.bbc.co.uk/news/magazine-34925933

Typically the BBC doesn't ask the question immediately on my lips when I read this article. I was pretty sure I already
knew the answer. Thankfully, the sort of information the BBC missed to suit its political agenda is easy to find elsewhere.

https://www.thisismoney.co.uk/money/cars/article-2217921/Whiplash-map-UK-Birmingham-55-worst-districts-making-claims.html


Or perhaps Asians just have particularly weak necks?
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