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The MoJ’s proposals, which include a cap on the compensation available and an increase in the small claims court level for personal injury, are aimed at saving the insurance industry around £1bn a year and for these to be passed on to consumers through reduced motor premiums.
The measures outlined in the consultation document include:
The consultation will run until 6th January 2017.
Arc Legal has continued to monitor and actively assess the potential impact on Legal Expenses Insurance of the proposed changes to small claims court limits and removal of compensation for soft tissue injuries. It, previously, produced a series of options papers considering different aspects of the proposed changes on products and will continue to update clients on how the market is likely to respond to the changes.
If you would like to discuss this in further detail, please contact your Account Manager.