The Cost of Motor Insurance

The Cost of Motor Insurance

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In this report that follows up the Government's response (5th special report, HC 1466, ISBN 9780215561299) to the Committee's earlier report on the cost of motor insurance (HC 591, ISBN 9780215556776), the Transport Committee warns that the spiralling cost of motor insurance is primarily the result of market dysfunction and, in particular, the escalation of uncontested claims for whiplash injury. The Committee also concludes that the rise in personal injury claims is the main reason for the rise in premiums, and questions the effectiveness of the Government's recent decision to ban referral fees relating to personal injury cases. Numerous factors combine to affect the cost of motor insurance and that tackling any in isolation will not deliver a significant or lasting reduction in premiums. The report calls on the Government to: review how well the 'pre-action protocol' and 'online portal' established to handle low value insurance claims have operated since their introduction in 2010, results to be published within six months; establish a cross-departmental ministerial committee on reducing the cost of motor insurance and publish a plan to address each aspect of the problem; send a clear message to the insurance industry that it expects 2008 data protection legislation to be fully respected and impose stricter penalties for any breach; initiate an investigation of cold calling undertaken to generate personal injury claims and then examine the legal and regulatory options for curtailing this activity.This review should be conducted and its results published within six months. ... wanted the claims management companies cannot get that information from anywhere else other than insurersa€.28 Mr Evans ... policy is a valuable commodity to a whole range of firms, keen to offer legal assistance, vehicle hire or vehicle repair.

Title:The Cost of Motor Insurance
Author: Great Britain: Parliament: House of Commons: Transport Committee
Publisher:The Stationery Office - 2012-01-12

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