UK Personal Injury Market Experiences Considerable Changes, Says Verdict Retail in Its New Report Now Available at MarketPublishers.com01 Jul 2016 • by Natalie Aster
LONDON – Nowadays, the personal injury industry in UK is witnessing continued development and is keeping to a turbulent course of different reforms, which are likely to change the market considerable. These changes are spurred by various legal, legislative and regulatory forces.
Whilst the country’s personal injury market was just making the first attempts to settle after LASPO 2012 (Legal Aid, Sentencing and Punishment of Offenders Act), reforms introduced by the UK government in November last year have once again given an impetus to the uncertainty growth.
During 2015-2016, the market witnessed a steep downfall in public liability claims and employers' liability. This reflects the start of a fall in noise-induced hearing loss claims and also a return to pre-LASPO levels. The LASPO spike is still having influence on profitability, despite the fact that a more stable situation in claims recorded will likely be welcomed by the UK insurance industry. Presently, settled claims remain considerably above the pre-LASPO levels.
Reforms could possibly have a tremendous impact on the country’s claimant sector. They are expected to crystallise the trends of revenue diversification and consolidation already in evidence in the UK.
Novel research report “UK Personal Injury Litigation 2016” prepared by Verdict Retail provides a detailed guide to the UK personal injury marketplace, focusing on its dynamics (growth driving factors, challenges, restraints, prevailing trends and opportunities). The research publication sheds light on the latest market strategies, delves into the course of legal and regulatory reforms in the post-LASPO injury claims space. Key announcements, shifts in the market and future possible changes are scrutinised in the topical research study. Future forecasts are also provided.
For more comprehensive research reports by the publisher, please, visit the Verdict Retail page.