Acording to the BBC, the cost of car insurance is going to increase considerably as the market follows steps taken by Norwich Union to cover their payouts to the ambulance chasers.
Car insurance costs look set to rise following a move by Norwich Union, the UK’s second largest car insurer, to raise its rates by an average of 16%.
The firm said its hand had been forced by a similar rise in claim costs over the past two years, during which time insurance rates had remained static.
Norwich Union said claims for personal injuries had been the main reason for the rise in its costs.
With motor personal injury claims now accounting for the majority of all personal injury claims acording to Datamonitor (as reported by autoindustry.co.uk), drivers may be in for a hard time of it.
In the meantime, no-win no-fee lawyers and rubbing their dirty little hands in glee.
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- This entry was posted on Saturday, September 2nd, 2006 at 2:18 pm.
