Nick Starling, the ABI's director of general insurance has said the ruling on asbestos is a 'stark warning' to claims firms who exploit the compensation system...
Nick Starling, the ABI's director of general insurance has said the ruling on asbestos is a 'stark warning' to claims firms who exploit the compensation syste
Starling said: “The ABI welcomes the legal clarity this judgment brings. [It] will help claimants understand what conditions are eligible for compensation, and insurers to know when they may be liable.
“This judgment is a stark warning to claims firms who seek to exploit the current compensation system by misleadingly raising expectations of the public. The government intends to regulate these firms. They should do so quickly so that people who believe they are entitled to compensation get a better service.
“Insurers are committed to paying fair compensation as quickly as possible to all claimants who are legally entitled to it.
"Insurers pay out over £4.5bn in personal injury compensation a year. Because the industry wants to pay this compensation more quickly the ABI recently put forward our blueprint for reform. We urge the government to embrace reform so that compensation claims can be settled much more speedily.”
