Market

Table of Contents
1. EXECUTIVE SUMMARY 2
1.1. Market summary 2
1.2. Key findings 2
1.3. Critical success factors 2
2. THE PERSONAL INJURY CLAIMS MARKET 7
2.1. Introduction 7
2.2. Reforms are set to shake up the personal injury market 7
2.2.1. Changes to calculating the Ogden discount rate are set to benefit insurers 7
2.2.2. The Civil Liability Bill paves the way for the introduction of injury tariffs 8
2.2.3. Pre-medical offers will no longer be available on RTA whiplash claims 9
2.3. Proposed RTA claims changes will increase the Small Claims Track limit 10
2.4. Summary of proposed changes 10
2.5. The impact of LASPO on the claims market 11
2.5.1. The number of claims has continued to fall post-LASPO 11
2.5.2. Motor-related injuries are the main driver of personal injury claims 13
2.6. Claims dropped considerably in 2017-18 compared with the previous 12 months 14
3. FRAUD IN THE PERSONAL INJURY MARKET 15
3.1. Fraudulent claims are a major concern - but the number of detected cases fell slightly in 2016 15
3.1.1. Fraud in the personal injury space is well documented 16
4. CMCS FACE GREATER SCRUTINY 18
4.1. CMCs will be regulated by the FCA 18
4.1.1. The number of authorized CMCs continues to fall 18
4.1.2. CMCs will likely diversify in search of new claims markets 20
4.1.3. CMCs are facing closer examination than before 20
5. PERSONAL INJURY CLAIMS IN FOCUS: MOTOR 22
5.1. Total recorded motor claims have dropped by almost a fifth 22
5.1.1. Recorded claims fell by over 100,000 in 2017-18 22
5.2. The number of accidents on UK roads continues to fall 23
5.2.1. RTAs continue to decrease as UK roads get safer 23
5.2.2. Despite the falling number of RTAs, average premiums continue to rise 24
5.3. The motor claims market is most likely to be impacted by reforms 27
5.3.1. The Civil Liability Bill is targeted towards the motor claims market 27
5.3.2. Technology will impact the motor claims market considerably 27
6. PERSONAL INJURY CLAIMS IN FOCUS: PUBLIC LIABILITY 28
6.1. Claims related to public liability increased in 2017-18 28
6.1.1. The number of claims recorded increased for the first time in four years 28
7. PERSONAL INJURY CLAIMS IN FOCUS: EMPLOYERS’ LIABILITY 31
7.1.1. Employers’ liability claims have continued to fall 31
7.1.2. The total number of settled employers’ liability claims has tumbled 34
7.1.3. Workplace injuries are continuing to decline 34
8. APPENDIX 37
8.1. Abbreviations and acronyms 37
8.2. Bibliography 37
8.3. Further reading 38