Third party injury claims up despite fall in reported motor accidents
The frequency of third party injury (TPI) claims arising out of motor accidents increased by 6% in 2011, according to a report from the Institute and Faculty of Actuaries.
This is despite an 11% decline in accidents giving rise to third party damage claims in the same period, and a 20% reduction in the number of injuries reported to police between 2006 and 2011.
According to the report, TPI claims costs rose by 19%, leading to an estimated £400m increase in costs to insurers.
However it appears that this jump in costs has not been passed on to consumers, with the average cost of UK motor insurance premiums falling by 7.1% over the last 12 months.
Concentration of
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