Despite the bashing of the recent findings of the motor insurance review, Watermans Accidents Claims and Care welcome the findings of the CMA report.
The report will end the practice of car insurers offering cheaper car insurance through price comparison websites. This is with the aim to promote better competition within the market and therefore better deals for drivers.
However, the review has come under huge scrutiny from car insurers who claim fraudulent whiplash claims account for an extra £90 to insurance premiums and the report fails to acknowledge this. Though whiplash is a contentious issue in the £11bn motor insurance industry, for years insurers have tried to ‘buy off’ injured people with low pre-medical offers in the hope that injured people would simply take the money and run. A culture of trying to settle a case at the lowest level without any regard to the well-being or indeed legitimacy of the injured party has acted as a shining beacon to fraudsters who have taken full advantage of their lax approach.
At the other end of the scale we still regularly encounter insurers indulging in their own ‘acceptable’ form of fraud; the fine art of under-settlement. Fortunately, we ensure our clients are not so easily fooled. The insurance industry must stop blaming everyone but itself for the abhorrent culture of fraud it has both created and encouraged for years.