Lloyd's backs ABI on compensation culture

The Lloyd's building

The report from the ABI revealed the real cost of compensation culture was being borne by consumers, taxpayers and business claiming that £2.7m a day was being paid by UK consumers to claimant lawyers through their motor insurance premiums.

Sean McGovern, Lloyd's general counsel, said: "Insurers are committed to paying valid claims, but steps need to be taken to stop the further growth of a compensation culture in the UK. The costs of a litigious culture aren't just borne by insurers but are a

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