Good News At Last For Motor Fleet Insurance
Mat Kiff, Head of BHIB’s Transport and Logistics Team reflects on new legislation announced in The Queen’s speech on the 21st June 2017. The legislation is intended to clamp down on fraudulent whiplash claims and malpractice among claims management firms.
“The Civil Liability Bill aims to pay full and fair compensation to genuinely injured people. It will prevent insurers in settling whiplash claims without medical evidence and will pin compensation payments to a fixed tariff system.
The Queen said: “Legislation will also be introduced to modernise the courts system and to help reduce motor insurance premiums.”
The new law could save motorists substantial savings on insurance premiums, which will help mitigate some of the recent increases due to the Ogden discount rate change and rise in Insurance Premium Tax to 12%”.
Amanda Blanc, CEO of Axa UK, approved the news within The Queen’s Speech, explaining that it was encouraging to see the government taking whiplash fraud seriously.
In further updates, the Government also introduced the Automated and Electric Vehicles Bill, which will make it compulsory to insure autonomous vehicles. Mat has also recently given his thoughts on autonomous vehicles, which you can read here.
To discuss the impact of this announcement or if you have any other fleet / motor related issues, you can contact Mat via email, or call (0330) 024 06 06