The government of Britain has taken a very bold approach to reducing accident injury claims that are paid out. After reading that initial sentence, you may wonder if they are trying to cheat people out of legitimate injury claims.
Road traffic accident related personal injury claims are 50% higher than a decade ago, despite the fall in the number of reported accidents and the UK having some of the safest roads in Europe.
Road accidents have decreased and yet claims are fifty percent higher? Blame that partially on people seeking a lifetime payday from an insurance company and the legal system, which seemingly promotes suing and lawsuits as the solution to every problem facing mankind.
There is no doubt that bad lawsuits cost consumers a lot money in the form of high insurance premiums. The anticipated benefit to England’s new law is that consumers should see a decrease in their insurance premiums. Sounds like a win-win. Frivolous lawsuits are decreased and insurance premiums go down.