Historic £13.7m claims payout will affect all Guernsey risks

UK insurers will have to re-examine all their Guernsey-based risks in light of last week’s record £13.7m payment to injured cyclist Manny Helmot, AXA’s managing director of claims David Williams has warned.

Williams said the historic payout ordered by the Guernsey courts, would force “all insurers to look carefully at their rating for Channel island risks.”

The payment was raised because the judge in the case believed the claimant would lose money, rather than make money, on his lump settlement in today’s economic environment.

Partner and head of litigation with Stephensons Solicitors Andrew Welch said the approach was unlikely to be followed by courts in the wider UK.

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