Following the recent change (March 17) to the calculation of personal injury awards compensation awards for serious injuries have increased significantly.
Insurance companies have reported that profitability has been materially impacted as the increased awards feed through to higher claims settlements.
As a result, the last few months have seen, insurance companies increasing premiums for all types of motor policies.
A good claims experience now has an even greater importance in managing premium costs.
In our latest Quick-Note we
- review what has been happening to premiums
- share what we are doing to help clients
- introduce our guide on how to control the cost of claims and keep your claims experience healthy