Auto insurance fraud suffers a blow in the United Kingdom

auto insurance young drivers UK

UK Ministry of Justice puts an end to compensation for minor whiplash injuries The United Kingdom government is working to combat auto insurance fraud and the Ministry of Justice is putting an end to compensation for minor whiplash injuries caused by car accidents. Instead of receiving compensation from their auto insurance providers, their rehabilitation will be paid for, which the government expected will save consumers an estimated $1 billion a year in insurance costs. Moreover, cutting down of fraudulent claims may lead to a decrease in auto insurance premiums. Changes…

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Antitrust regulator in the United Kingdom to begin motor insurance rate inquiry

An antitrust regulator in the U.K. is beginning a probe into the increasing private auto insurance premiums in the country, as a precursor to actions that may be taken to alter and better the way the marketplace functions. The Office of Fair Trading (OFT) will examine evidence regarding the increases in price that occurred annually over a five year period and will work with the Financial Services Authority and the Ministry of Justice throughout this investigation. The OFT says that it will release its findings in December. According to a…

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