The ABI has hailed today's speech by Lord Falconer as a significant breakthrough in ministerial thinking on the issue of compensation and the law.
Falconer made the speech, in response to the Better Routes to Redress report published in May by the Better Regulation Task Force, at Insurance Times' Future of Claims event earlier today.
ABI director general Mary Francis said: “Lord Falconer has signalled that the government is engaged and involved in this issue. This is a significant and very welcome breakthrough."
She added: “Our compensation system needs to be improved so that it is fairer and more efficient.
