Fleets advised to take stock of new personal injury claims process
Designed to facilitate claims settlements and reduce legal costs, the new personal injury claims process mandates electronic claims notifications and requires the claimant's solicitor to submit the necessary paperwork within five days. It also provides 15 working days for defendants and their insurers to respond following a notification, without the possibility of extensions. Admissions of liability within the 15-day period are binding except in the case of fraud.
Mark Daynes, head of Marsh's motor practice, explained: 'The new process will ensure that motor injury personal claims are settled more expeditiously. By immediately reporting accidents and adhering to the new process, organisations will be better able to control both the direct and indirect costs of claims by reducing third party and their own internal administration costs.
'Organisations which operate motor vehicles should review their claims management procedures to ensure they comply with the new process. This review may also enable organisations to identify and pursue uninsured loss claims against responsible third parties, which will have a direct, positive impact on cashflow.'
Marsh has developed its Motor Claims Healthcheck to help organisations prepare for the new procedures and realise potential cost savings. This includes:
• Assessing your claims experience by auditing and analysing claims data.
• Reviewing internal processes for notifying claims and pursuing uninsured losses.
• Providing a report with recommendations on process improvements.
• Assisting in the implementation of improvements, training and monitoring success.For more of the latest industry news, click here.