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Market (Injury) Claims Update - June 2024
Introduction
In May we saw the annual release of the personal injury claims statistics registered with the Compensation Recovery Unit (CRU).
The figures for 2023-2024 show a reduction in the total number of claims flowing through the system to 477,220. This is largely driven by a drop in the number of motor injury claims registered.
In total 348,806 motor injury claims were registered, a drop of 5% on the previous year, and as shown below, 55% lower than the number of claims seen a decade ago.
Public Liability (PL) and Employers’ Liability (EL) have seen a rise in numbers with 58,933 and 44,547 claims registered at an increase of 10% and 2% respectively.
However, when looking at the pre-pandemic years of 2019-2020 – registered claims for PL and EL show a reduction of 44% and 19% respectively. When comparing the number of claims registered against those registered a decade ago the latest figures show a reduction of 58% and 43% respectively.
It is also worth noting that 2013-2014 was the last year the total number of injury claims registered exceeded 1m with this year’s total 53% lower.
In addition to the pandemic, we have of course seen a multitude of factors influencing the personal injury space. In motor, 2021 saw the introduction of the whiplash reforms, creating a tariff-based compensation system for the first time for applicable claims. In addition, the Small Claims Track limit rose to £5,000 and with it the ability to recover legal fees taken away. There has also been a move in the behaviours of those representing claimants with social media now awash with advertisements for claims in areas outside the personal injury space. EL claims have also been impacted by the increase in remote working, a constant commitment by employers and the UK Government to create better working practices, and an increased awareness in risk management.
As for the future, in the motor space we hurtle toward a world of greater connectivity and autonomous vehicles, with more general working practices not appearing to be wholly reverting back to the pre-pandemic ways, and online shopping habits continuing to grow. What seems certain is that we will not return to the level of claims seen 10 years ago and appear to be approaching a plateau of year-on-year consistency.
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