Take note of these names. They are the people set to leave their mark on the rapidly changing claims sector this year
With radical reforms in the offing, battles to be won and lost, and new business models on the horizon, the claims sector is in for another interesting ride this year.
Valentine’s day, 14 February, is the hot date when the government’s consultation on the Jackson Review comes to a close. Jackson’s admirers at the Ministry of Justice and among insurers hope his proposals will cut civil
litigation costs, saving the NHS and insurers money – and many expect the recommendations will be introduced.
But Jackson has not won everyone over.
Legal expenses insurers, whose business will be severely affected, and lawyers, many of whom will be left out of pocket, have been joined by charities and victims’ groups to argue that the reforms will limit claimants’ access to justice.
The next two weeks will see a flurry of data and arguments against the reforms. And even when the consultation paper is published in the spring, some expect a last-ditch challenge.
And who could forget disgraced former enterprise tzar Lord Young? He may have faded from the limelight, but his proposals on claims management companies’ advertising have not.
October will see the arrival of alternative business structures in accordance with the Legal Expenses Act of 2007, dubbed ‘Tesco law’ by critics, which will allow parties other than lawyers to own law firms. This will herald big changes for the claims sector, challenging the traditional relationship between law firms and insurers and the way claims are handled.
Elsewhere, the beleaguered credit hire market is set to see new forms of business models emerging while the loss adjusting sector will continue to come under pressure to meet changing client demand.
So who will be driving the action? As Insurance Times launches its inaugural UK Claims Excellence Awards, we present an at-a-glance guide to the key movers and shakers in the claims sector for 2011. And you can read even more about the top 20 at insurancetimes.co.uk/claimsandliabilities (see Related Article links, above right). IT