Despite the visible slowdown in 2010, which raised hopes of the personal injury claims market slowing down, 2011 saw a new increase. At the same time, since 2010 the government has been trying to introduce the relevant legal changes in order to bring costs down, in a legislative process that took almost two years.
Find out about the recent regulatory changes in the personal injury market.
Learn about the most recent market trends and how they are likely to impact your business.
Assess your strategy in the changing personal injury litigation market.
How has the UK personal injury market changed in recent years?
Which parts of the personal injury market have the highest claims costs?
What are the major regulatory changes and how are they going to impact the market?
Will the regulatory changes reduce personal injury costs?
The real cost of claims exceeded any forecast, totaling 9.8bn in 2011, and this growth continued in 2012.
Motor insurance remains the main contributor toward these costs; however, it was clinical negligence that grew the most between 2010 and 2011 at 45.9%.
Motor insurance now accounts for nearly 80% of all personal injury claims. Employers' liability claims dropped from 11.4% in 2010 to 8.4% in 2011, and clinical negligence remained largely the same at 1.3%.