The CBI's report on the claims market reveals a stark contrast between claim numbers and costs, showing that while public liability claims decreased, average costs surged nearly 70%. The results indicate that most personal injury claims continue to go through litigation despite more cost-effective resolutions available via the Injuries Resolution Board. Notably, only a small percentage of cases are resolved through the Injuries Board, leading to inflated legal fees without noticeable benefits for claimants.
The report highlights that the path of litigation costs claimants significantly more, with expenses being up to 25 times higher without offering additional benefits.
Despite decreased numbers of claims, average claim costs have escalated, resulting in only a marginal reduction in overall expenses for public liability cases.
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