ABI welcomes govt compensation ruling

Thousands of people involved in road traffic accidents last year will receive compensation quicker thanks to a new government ruling.

That is according to Nick Starling, director of general insurance at the Association of British Insurers (ABI), who praised the Conservative-Liberal Democrat alliance's decision to extend the injury claims limit after such incidents to £25,000.

Previously, this was restricted to £10,000 but Mr Starling - whose organisation was formed in 1985 and now has more than 300 members - believes the new regulation will mean faster damages settlements for the 55,000 people injured on Britain's roads last year.

The industry official noted that this process is likely to halve the time it takes for awards to be made.

He went on to call on the government to "press on" with its "wide-ranging and long overdue reforms to civil litigation to ensure that steps such as reducing fixed legal costs lead to a more cost efficient compensation system".

Posted by Emily SwansonADNFCR-1500-ID-801290190-ADNFCR

10/02/2012 16:52