Personal Injury Reform

After a very long wait for the personal injury reform proposals the claims industry has received the long awaited news from the Department of Constitutional Affairs.

One of the most dramatic proposals is the change to the ATE, After the Event Insurance element of the personal injury compensation process. The personal injury reform proposals indicate that fixed fees be introduced for medical and legal costs which will be a devastating move for medical agencies who rely on highly inflated report costs and extended credit facilities to accommodate their business.

The move on fixed fees will be bad news for the ATE market because the advent of fixed fees would render the whole aspect of after the event insurance pointless and given the industry is reported to be worth over one hundred million pounds annually this will strike a massive blow to the market but once again the whole aspect of reduced costs will be welcomed by the insurance industry.

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