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The RAC Foundation has said that PI compensation levels for road traffic accidents in the UK are 17 times higher than some other European countries.

Meeting the long-term care costs of some of those catastrophically injured in road accidents can result in compensation payments of around £10 million in the UK, significantly ahead of Germany (£6 million) and France (£6 million).

The report says: “The UK Government’s own calculations for a young quadriplegic requiring £100,000 a year in care costs is that the lump sum award will increase from £5-6 million to £9 million – up around 60%. The UK Prudential Regulation Authority has estimated that overall claims costs could rise by £2 billion annually.”

Have you ever been the victim of an auto accident or suffered from a road traffic accident injury? You might be eligible for a claim. We can help you with your claims process. Click here to find out more- http://claiminjurynationwide.co.uk/Home/RoadTrafficAccident?src=fdc&lid=zip37

Auto accident personal injury claim levels 17 times higher in UK than other European Countries

In what is being seen as a big win for the campaigners against the Ministry of Justice’s controversial road injury compensation plans, the MOJ has agreed to drop the idea of increasing road injury compensation limits. Earlier it was revealed that the MOJ was contemplating increasing the small claims limit for victims involved in “road traffic accidents” from £1000 to £5000. Cycling UK, British Cycling and other cycling organizations had been campaigning against the planned changes.

The snap election and a Brexit legislative log-jam are being credited as the reason behind the Ministry of Justice’s change of heart. The news was welcomed by Cycling UK. Cycling UK’s legal campaigns officer Duncan Dollimore said:

“Cycling UK are delighted that following our recent meeting with MoJ officials to highlight the impact of the small claims proposals, our submissions to the Justice Select Committee inquiry into compensation reforms, and the thousands of people who backed our campaign, that the Government now accepts road victims are real victims. The Government had tagged proposals to increase the small claims limit onto plans to reform what they claimed were fraudulent and exaggerated whiplash claims, despite the fact that whiplash claims by vulnerable road users, such as cyclists, are a rarity.’’

“The issue of an increase to the small claims limit might re-surface at some point in the future. If it does, any future Government must give more thought to the impact on the most vulnerable road users, who shouldn’t be scapegoated under a misleading headline of whiplash reform.”

Wondering how much your claim could be worth if you are eligible? We are here to help, fill up a short form here- http://claiminjurynationwide.co.uk/Home/RoadTrafficAccident…

Ministry of Justice has a change of heart

An appeal has been made by UK’s personal injury lawyers, to protect the rights of its citizens who are injured in road accidents abroad post-Brexit.

Currently, those residing in the UK can file for a personal injury claim against foreign insurers in the event that they meet with an accident. The UK courts can also enforce a judgment against a defendant from another member state.

Concerns expressed by the Personal Injury Bar Association (PIBA) suggest that if the UK government fails to preserve the current agreements, it could lead to injustice for injured parties and at a significant cost to the UK. Currently the UK saves hundreds of millions of pounds on treatment costs, social care, and benefits thanks to the streamlined claims process.

The so-called Great Repeal Bill may incorporate some of the current benefits injured parties enjoy under EU law, however, PIBA has said it was unlikely that all the advantages would be enshrined in UK legislation, including whether domestic judgments will be enforceable abroad.

Wondering how much your claim could be worth if you are eligible? We are here to help, fill up a short form here- http://claiminjurynationwide.co.uk/Home/RoadTrafficAccident?src=fdc&lid=zip32

UK's personal injury lawyers appeal to protect citizens right post-Brexit

The government has disclosed its consultation into how the discount rate for personal injury pay-outs should be applied in future. This move comes after the recently introduced reforms regarding injury claims.

The new reforms mean the way insurance firms are charged mean premiums for motorists will rise significantly. As of now courts charge 2.5 per cent off claim amounts to reflect the interest a victim will make on the lump sum when they deposit it in the bank. However this percentage amount is about to drop to minus .75% leading to a situation where insurers and public sector bodies such as the NHS will have to pay out more.

In a written parliamentary declaration, Justice Secretary and Lord Chancellor Liz Truss mentioned that the consultation would examine whether the rate should be set by an independent body.
She added that it would investigate whether more frequent reviews would improve predictability and certainty for all parties; and whether the methodology – which in effect assumes that claimants would invest only in virtually risk-free index-linked gilts - was “appropriate for the future”.

Shares of UK insurance companies Admiral and Direct Line descended into a steep decline with shares in Direct Line fell more than 8 per cent while shares in Admiral declined more than 4 per cent. According to Reuters, Admiral is estimated to take a hit on 2016 profits by £70m to £100m and Direct Line said the new rate would reduce 2016 profit before tax by £215m to £230m. Another insurance giant Aviva warned it will take a £385 million hit, post the announcement by the ministry.

If you have ever been involved in an injury that was not your fault, you might be eligible for a claim, find out more here- www.claiminjurynationwide.co.uk/Home/RoadTrafficAccident?src=fdc&lid=zip29

To read more- http://www.digitallook.com/news/political-news/uk-govt-launches-ogden-rate-consultation--2599170.html

Government discloses its consultation on how personal injury discount must be applied going forward