Brokers face income hit after Ministry of Justice closes CMCs
Closure of claims management companies could lead to significant losses for some smaller brokers
The Ministry of Justice (MoJ) shut down 734 claims management companies (CMCs) in 2011, according to recently released figures.
This represents almost one fifth of the total number of CMCs that were operating in the UK at the beginning of last year, a sizeable chunk of a market by anyone’s standards. Clearly, the claims management industry is not having an easy time of it at the moment.
“Obviously there are different types of CMCs,” said Chris Shaw, commercial director at Ai Claims Solutions.
“A
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