Post Mag news roundup

I had to re-read the Insurance Times article on this topic because its headline read ‘£11bn by 2050’. So which is it?

Asbestos claims to cost insurers £11bn by 2010

I had to re-read the Insurance Times article on this topic because its headline read ‘£11bn by 2050’. So which is it?

Both articles quote the same research and detail the same figures from the Actuarial Profession’s UK Asbestos Working Party, which said that ‘undiscounted claims to the insurance market for asbestos could reach £11bn for the period 2009 to 2050.

So not ‘by 2010’ then.

 Axa Strikes personal injury first with CEDR

Axa insurance has become the first insurer to sign up to the Centre for Effective Dispute Resolution’s personal injury service.

The service is aimed at small claims and offers phone (£145) and face to face (<£700) mediation and according to this story, Axa has been trialling its use since June last year. The piece cites ‘average costs’ for a litigated case to be £30 000 – £70 000, but I get the feeling the CEDR said that.

DAS to cut temporary staff after loss

Getting some good news out quickly after the legal expenses insurer’s hellfire that was the Jackson Review must have been top of DAS’ priorities. A software deal could save the company £1.75m a year apparently, but there is the small amount of chopping 30 temps from its call centres which may have a more believable impact on its bottom line.  

Scots take English referrals

A Scottish claims management company has seen a 40% increase in personal injury claim referrals from English firms as a result of a proliferation of television advertising. Accident Claims Scotland said it had received over 1100 referrals from England in 2009 as opposed to 750 the year before. English firms are apparently receiving enquiries from Scottish claimants encouraged by advertising broadcast for an audience south of the border.

Irish personal injury claims down 6% on 2008

Compensation totalling 200m Euros was awarded in respect of 8645 PI claims in 2009 according to the Irish Personal Injuries Assessment Board. The average settlement was 23 263 Euros, 6% down on 2008 but 5% higher than the 2007 average.

About Ralph Savage (140 Articles)
Insurance and legal journalist Ralph Savage has written extensively for the financial and professional services sectors, most notably as News Editor of Post Magazine. He ghost writes regularly on behalf of FTSE 250 CEOs, leading counsel and senior professionals including solicitors, insurers, accountants and brokers.

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