In light of today's Queen's Speech, the Chartered Insurance
Institute welcomes the Government's commitment to a civil liability
bill, which will tighten rules on whiplash claims.
It is essential that people who suffer from personal injuries
get the help and compensation that they need, but it is also
important to ensure that motor and liability insurance is
With the cost of living rising faster than wages, it is
essential that the Government acts to prevent avoidable increases
in the cost of car insurance.
The announced measures will deliver savings to motorists and
represent a sensible approach to whiplash reform.
We also welcome the decision to put the FCA in charge of
regulating claims management companies. The FCA has the resources
needed to enforce the existing regulation.
While there are many instances where claims management companies
provide valuable support to consumers entitled to compensation,
there is a need for tighter enforcement of regulations.
Better enforcement will bring two significant benefits for
First, they will be less likely to be pestered by claims
management companies in unethical ways.
Second, they won't have to pay premiums that are inflated by
unscrupulous firms coaching people into making frivolous or
Cracking down on these firms using a proven regulator is welcome
news and we look forward to working with the FCA and other
important stakeholders to make a success of the new regime.