Fear credit hire and repair claims 'may reach £1.2bn'

New figures suggest that credit hire and repair claims are projected to cost the insurance industry £1.2bn for 2008.

With the UK economy rapidly slowing and recession in sight TCS, which acts on behalf of insurance companies to reduce claim costs, issued a warning to the insurance industry to act now to reduce these costs.

According to TCS, the average value of each credit claim received by the insurance industry is in excess of £1,700. Based on recent statistics the number of credit claims has

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: