Personal injury costs to approach £10bn, report says
Costs faced by the personal injury insurance industry are likely to rise from £8.4bn in 2010 to £9.7bn by 2014 driven by the growth in the number of motor personal injury claims according to a report by Datamonitor.
The market analysts added the rise would continue despite new regulations being brought in to tackle the problem.
The report revealed that it is motor claims that continued to dominate the personal injury market as a whole accounting for just under 80% of the total despite a fall in the number of road traffic accidents. It added that employers' liability, public liability, and clinical negligence all contributed to the market, but to a lesser degree.
Barbara Kubis-Labiak, analyst at Datamonitor
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