A survey from the Institute and Faculty of Actuaries (IFoA) has found that the legal costs for making third party whiplash-type injury claims has fallen by 65%.
According to the IFoA, the introduction of the Legal Aid Sentencing and Punishment of Offenders Act 2013 has not only led to a reduction in the cost of legal fees, but also a reduction in the cost of making a genuine whiplash claim. The introduction of the act has also led to a decrease in the number of bogus claims throughout the UK.
The IFoA findings show that the cost of whiplash-type bodily injury claims has fallen by 19%, with the frequency of the claims also dropping by 12% from the previous year.
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