Investigation Into Repair Costs & Fraudulent Claims
In September 2012 it was announced that the Competition Commission had launched an investigation into the UK system for credit repairs and credit hire of an alternative vehicle by a 3rd party following a non-fault accident. It was announced that insurers of vehicles that had caused a valid claim were unable to control the costs that were applied to the claim by means of repairs, storage, vehicle hire, referral fees and personal injury claims. Many accident management companies will take over the running of a non fault claim and arrange everything for the 3rd party. The subsequent cost of some of the items submitted for consideration has been a cause for concern over recent years and this has caused an increase in the premium costs. Also, the recent craze of "Cash for crash" has substantially raised the cost of policies. This is where two parties arrange a collision between their vehicles and one driver making excessive claims for damage and non existent injuries to themselves and the passengers that they had arranged to be "in the vehicle" at the time of the collision. Another recent development has seen crashes being caused delibarately by a driver "slamming" on their brakes so that the driver behind impacts them, this is usually carried out at roundabout junctions, when the following driver is looking to the right for oncoming traffic and does not notice that the vehicle in front has suddenly stopped for no reason.
Read more about this topic: Vehicle Insurance
Famous quotes containing the words repair, costs, fraudulent and/or claims:
“Better to repair the pen after the sheep have escaped than not at all.”
—Chinese proverb.
“When over Catholics the ocean rolls,
They must wait several weeks before a mass
Takes off one peck of purgatorial coals,
Because, till people know what’s come to pass,
They won’t lay out their money on the dead—
It costs three francs for every mass that’s said.”
—George Gordon Noel Byron (1788–1824)
“It is pretty obvious that the debasement of the human mind caused by a constant flow of fraudulent advertising is no trivial thing. There is more than one way to conquer a country.”
—Raymond Chandler (1888–1959)
“In great contests each party claims to act in accordance with the will of God. Both may be, and one must be wrong.”
—Abraham Lincoln (1809–1865)