You are here

Feet to the fire: making insurers accountable for passing on savings

Despite earlier pledges, the government is yet to set up a framework compelling insurers to turn reduced costs into lower premiums, argues Qamar Anwar

18 June 2019

Ministerial speeches are not usually a source of great amusement. But I recall well the sceptical laughter at the Association of Personal Injury Lawyers annual conference in 2016 that met then justice minister Lord Faulks telling delegates that the government “fully expects” insurers to pass on the savings from whiplash reform through lower premiums.

Lord Faulks said ministers shared the concern that insurers would not reduce premiums, but insisted that the competitive nature of the insurance market provided them with “significant incentives” to do so.

“You have my assurance that the government will be holding insurers’ feet to the fire on this” he said.

For some considerable time thereafter, however, there was no sign of the Ministry of Justice making any specific provision for doing so, falling back on the ‘it’s a competitive market’ excuse so beloved of the insurance industry.

However, one of the ...

Want to read on?

This article is part of our subscription-based access. Please pick one of the options below to continue.

Already registered? Login to access premium content

SUBSCRIBE for one User

Unlimited access to the entire SJ website for a full year for one user.

  • 10 issues a year delivered to you
  • Digital edition of the magazine for one user – sent to your inbox or accessible through the website
  • Access to premium content on the website
  • Access to the fully searchable online archive of Solicitors Journal, Managing Partner and Private Client Adviser, which spans over 13 years
  • Weekly email newsletter with all the latest news, analysis and features
  • Comment on SJ content and contribute to the SJ community online
  • Advanced search feature
  • Online support
  • Access to SJ app compatible with Android and Apple devices – coming soon!
  • 6 special focuses per year
  • Special offers and discounts on Solicitors Journal and IICJ events

Subscribe

CORPORATE SUBSCRIPTION

Your department or entire firm can subscribe to Solicitors Journal online, providing easy access for all who require it. Discount corporate subscription rates apply, based on number of users.

The Corporate IP Licence includes:

  • Digital copy of the magazine sent to individuals’ inboxes and accessible through the website. Solicitors Journal publishes 10 issues per year
  • Unlimited access to premium content on the website based on IP addresses
  • Unlimited access to the fully searchable online archive of Solicitors Journal, Managing Partner and Private Client Adviser, which spans over 13 years
  • Weekly email newsletter with all the latest news, analysis and features
  • Comment on SJ content and contribute to the SJ community online (username required)
  • Unlimited access to SJ app compatible with Android and Apple devices
  • 6 special focuses per year
  • Special offers and discounts on Solicitors Journal and IICJ events

The Corporate IP Licence is tailored to your firm, making it the most cost effective way for the firm to access Solicitors Journal, and enables the firm to remain compliant with copyright and our Terms and Conditions. This gives you the ability to print and circulate articles within the firm.

To enquire about a Corporate IP Licence for your firm, please contact our Subscriptions Manager on emily.beechey@solicitorsjournal.com.