Insurance reform advocates are warning against the ongoing increase in motor, home, and business insurance premiums despite a reported decline in personal injury claims. The Injuries Resolutions Board noted that while 20,318 claims were submitted last year, the overall numbers have dropped significantly compared to pre-pandemic figures. This paradox raises concerns as premium costs continue to escalate, suggesting a need for accountability in insurance practices. The statistics signify a disconnect between decreasing claims and rising insurance costs for consumers.
The Injuries Resolutions Board reported a significant drop in claims post-pandemic, yet insurance premiums for motor and home continue to rise, raising concerns.
Despite a 40% reduction in workplace accident claims, insurance premiums have increased, with insurers citing higher costs as justification for these continued rises.
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