Road traffic accidents and car crashes: nobody wins

Industry news roundup: week ended 14 July 2014:

You might think that people who make successful car accident claims come out on top, but the sad truth is everyone suffers when traffic accident figures are up.

Sure, you can get a big fat personal injury compensation award if you’re injured in a RTA, but you know that money has to come from somewhere, right? Well it’s not coming from the other driver directly – it comes from insurance companies, and their coffers don’t get filled without charging their customers for insurance cover. The more accident claims an insurer loses, the more money it spends – and the more it has to raise its rates on its customers to make up the shortfall.

Now that’s just the way things work – nobody really wins. However, everyone loses no matter what – and in times where traffic accidents – and traffic accident claims – increase, it’s pain for everyone. Sadly that’s what’s going on right now – in fact new research has said that the number of dangerous accidents occurring on 20mph roads in particular have gone up by 26 per cent over the past 12 months, if data from the Institute of Advanced Motorists can be trusted. The more accidents there are, the higher a chance for injuries to occur – and we’re all going to have to suffer. So for pity’s sake don’t drive like a pillock!

Of course, sometimes insurance companies are targeted directly by accidents – often in completely unexpected ways. In fact, this week saw an ambulance plowing through a pair of steel bollards and careering through a glazed shopfront before coming to rest in the office of an insurance company’s chief executive! Somehow everyone escaped harm, including the driver of the ambulance (who lost control in the wake of a collision) and every single insurance company employee that was there that day. Surely a stroke of dumb luck that there was no one hurt or killed. Still, I’m rather sure that the insurer’s costs to repair their shopfront are going to have a heavy impact on their bottom line – and that means their customers are going to feel the pain too. It’s a vicious cycle, and it drives me mad to think there’s no way out.

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