The Association of British Insurers’ head of motor and liability James Dalton asked whether injured people should actually be provided solely with rehabilitation rather than receiving an award of damages. He said: “We need a debate about whether someone should be awarded money for a low-value, low-impact and very minor injury claims. It’s a debate about whether you should be provided with rehabilitation and no cash. That is a legitimate public policy debate for society to have and politicians to decide on.” All other things being equal, a debate would be sensible. I actually think there is a lot to be said for a no-fault approach to rehabilitation immediately after an accident. It may stop,, or at least ameliorate, some of the negative stories with which personal injury claims have become wrongly associated.
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A surge in so-called "cash for crash" scams and fraudulent whiplash injury claims is being blamed for a sharp rise in insurance fraud detected by Britain's biggest insurer. Aviva said it discovered more than £110m worth of fraud in 2013 – up 19% on the previous year – and that it was currently uncovering 45 fraudulent claims a day. However, while policyholders submitting inflated or invented claims for supposedly stolen or damaged valuables is still an issue, Aviva said that increasingly, insurance fraud was carried out by third parties making claims against its customers – for example, for spurious injuries as a result of an accident – and also by organised gangs. A combination of factors including the challenging economic climate, the fact that many people see it as a victimless...Read more
House sales in Wales have increased by 21% in the first three months of the year compared to the same period in 2013. Figures released by HM Revenue and Customs show 10,720 houses in Wales were sold between January and March. It follows the launch of the country's help to buy scheme in January. The trend suggests growing confidence in the housing market but Cardiff estate agents, Moginie James, said it was only partly down to help to buy. The UK government operates another help to buy scheme in both England and Wales. The Welsh government's is available for new build homes up to £300,000 as long as borrowers have a 5% deposit. It will provide up to 20% of the value of the property as an interest free loan. Moginie James director Nick James said...Read more
Foreign investment in Spain’s housing market in 2013 was the highest for nine years, at €6.45 billion (US$8.95 billion), up 16% on the previous year, according to the Bank of Spain. British nationals were the biggest buyers with 15.1% of total foreign residential property purchases. The French bought 9.84%, the Russians 8.58%, and Belgians with 7.26%. Foreign investment helped the rate of house-price falls slow to 7.8% last year, compared to a price decline of 15.1% in 2102. Spanish home prices are now declining by only 4.1% per annum. But sales of new housing units fell by 37.4% year-on-year to February, according to the National Institute of Statistics. Spain, Europe’s fifth-largest economy, has witnessed a drop of up to 40% in home prices since 2007. Due to restricted credit, withdrawal of...Read more
The Rising Score of Youth Sports Head Injury Claims....Read more
This update contains summaries of two recent practical court decisions which provide confirmation that trust law in Ireland relating to trustee decision making, related responsibilities and potential liability for breach of trust is consistent with previous expectations. These decisions while welcome do not change the position as it was previously understood. As such they provide a significant degree of comfort that provided that trustees act in good faith, having taken appropriate professional advice, the Courts are very unlikely to interfere with their decisions. To the extent that there is anything novel in the two decisions, the most significant confirmation is that, as a general principle, it is appropriate for trustees to take into account arrangements being made outside the scheme for active members. We also provide an update on further EU regulation,...Read more