Marsh advises on RTA personal injury claim reforms
Marsh is advising all organisations that they can potentially reduce their motor claims costs, and therefore fleet insurance premiums, by adhering to the Road Traffic Act’s new personal injury claims process, which is available for claims of between £1,000 and £10,000.
The reforms were introduced by the Ministry of Justice in England and Wales on 30th April, with the aim of speeding up settlement times and reducing legal costs.
The new process, which is electronically driven, contains challenging time limits for both insurers and legal representatives; for example an insurer must decide on liability within 15 working days of being notified of the claim.
Marsh’s head of motor, Mark Daynes, is therefore recommending that organisations operating motor vehicles should review their claims management procedures forthwith, to ensure they comply with the new process.
“This review may also enable organisations to identify and pursue uninsured loss claims against responsible third parties, which will have a direct, positive impact on cashflow”, Mr Daynes adds.
By way of support, the broker has developed Motor Claims Healthcheck, a new package that can help organisations achieve the best from the new procedures and realise potential cost savings.
Category: Business Insurance News, Car Insurance News, Insurance News, Marsh News
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