Who wins in when it comes down to car accident claims?

Personal injury news roundup: 7 days ended 15 July 2013:

It’s easy to be smug and say that no one but personal injury solicitors benefit from a world awash in car accident claims, but is that the real truth or not?

Personal injury compensation awards notwithstanding – and the sometimes hefty legal fees that go to personal injury law firms as a result – there’s really no winner when it comes to a road traffic accident claim. If you’ve been injured to the point where you end up winning a multi-million pound settlement amount, you’re certainly not going to be in any sort of physical shape to enjoy your newfound wealth. In fact you’re probably going to just be relieved that you can afford somewhere to live that has disabled access for your ruined body.

Worse yet is that everyone else suffers when car accident figures increase. In fact, new research has shown that the number of accidents on roads with 20mph speed limits have gone up by some 26 per cent over the last year. More accidents means more potential injuries, and that leads to more possibly debilitating injuries that insurance companies have to pay out for. And guess what happens when insurers have to pay out on millions in damages? That’s right – they raise the rates on everyone: you, me, your mum, anyone that drives. It’s an awfully vicious cycle that feeds back on itself, like a snake swallowing its own tail, and no one is safe.

Speaking of a vicious cycle, one insurance company actually ended up embroiled in a nasty car accident personally. The offices of Rose Insurance had an unexpected visitor recently, and I don’t mean someone who walked in to their London location either; an out-of-control ambulance that went careering across the road after being struck by another vehicle plowed through the insurance office’s glazed storefront and came to rest smack dab in the centre of the CEO and owner’s office! Somehow, beyond all reckoning, no one was harmed, but the damage to the building was rather catastrophic. Guess their own business insurance premiums are going to go through the roof; an ironic twist of fate for a company that’s in the business of providing insurance for others, but what can you do in this mad world?

 

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