Our take on issues affecting the claims industry and claims management companies.
A lengthy investigation by the Competition and Markets Authority (CMA – the UK competition regulator) in to pricing deals between motor insurers and price comparison websites has now reported and stated that their exclusive deals are to be banned. As a result of their investigation, the CMA has reported that such deals prevented insurers from making the same car insurance […]
The personal injury compensation claims market in the United Kingdom is a regulated industry. All providers of personal injury compensation services, whether they are claims management companies or firms of solicitors, must act in a compliant manner and adhere to the strict regulatory authority requirements governing their sector of the industry. For claims management companies, the regulatory authority is the […]
As a result of the Compensation Act 2006, the personal injury claims management industry became a regulated industry. The industry regulator is now the Financial Conduct Authority (FCA). The biggest Compensation Act 2006 requirement of companies operating within the personal injury compensation sector, is that all businesses offering personal injury services are now required to hold annual regulatory approval to […]
The much heralded changes introduced to the personal injury claims sector by the Government in 2013 (as a result of the LASPO Act of Parliament 2013) were supposed to rid the system of fraudulent claims and make the claims process fairer for all parties. Although, in our view, it reduced fairness from the system giving more to the insurance sector […]
Since 1st April 2013, the regulations governing the provision of any service relating to personal injury compensation have been tightened drastically. New rules and regulatory requirements forced claims management companies and solicitors to drastically change the way in which they worked. The Jackson Reforms The ‘Jackson Reforms’ bought about the LASPO Act 2012 to which all regulated claims management companies […]
Today, I simply point you to an article in the Guardian (I found this article thanks to the CSC Bulletin) regarding the forthcoming, well proposed anyway, ban on referral fees… Those of us within the industry and in the know so to speak, fully realise the pointlessness of these politically derived proposals… they won’t benefit claimants, society at large or […]
It has emerged that the Claims Management Regulator has shut down close to a 100 claims management companies in a bid to carry out a crackdown on firms in the sector which mislead the public. Companies were using sales tactics and other methods of selling, including cold calls in person in addition to making misleading claims of writing off debts under […]
