UK Money News
26th March 2008
Insurance industry calls for reform of claims system
UK insurers have made fresh calls for a reform of the system for settling personal injury claims.
The Association of British Insurers (ABI) argues that the present system in place is too time consuming and results in long waits for consumers.
Research from the ABI found that the average workplace claim takes three years to settle, while payouts on road accident compensation take an average of 730 days.
The ABI said that if government proposals to revamp the system were implemented the time could be cut and is calling for these to be introduced as soon as possible.
Stephen Hadrill, director general of the ABI, said: "What tends to happen is that a person who has been injured goes to a lawyer who does a vast amount of research, often unnecessarily in our opinion, before putting the claim anywhere near the insurer.
"There is then a process of negotiation over liability and settlement in a very adversarial system."
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