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Download the Market (Injury) Update & Impact of the Whiplash Reforms – October 2023 PDF
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Market (Injury) Update & Impact of the Whiplash Reforms – October 2023
Introduction
Please find below the analysis on the latest MI released from both Claims Portal and the OIC Portal. We now have data from the three quarters of 2023, the latest data covering the quarter from July through to the end of September 23.
During this quarter, the Parliamentary Select Committee’s review into the reforms was published with questions raised of the MOJ and MIB into the low levels of direct claimants, high level of outstanding claims, concerns over savings being passed on to motorists with insurance premiums rising. Although mentioned there was no comment toward the issue surrounding mixed injury due to the Supreme Court giving a judgment on the same early in the New Year.
We however now have, for the first time a large monthly influx of EL Disease claims, out numbering both EL and PL accident claims. This rise is unprecedented and the market data does not allow us to drill further into the numbers, but the types of claims submitted in September as well as the trend going forward will need to be monitored for behavioural changes in the market.
It very well may be a targeted approach by claimant lawyers to ensure that the claim for disease was made before the 1st October fixed costs regime expansion cut off which of course follows by the date of the letter of claim. Octobers new claim numbers therefore should return to previous levels if so.
As always Portal Co have also released their data, which includes average general damages settlements, and is commented on below.
The full PDF report can be accessed here: Cms Data (officialinjuryclaim.org.uk).
Please download to read the full resource.
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