2015 saw many changes in the medico-legal sector, the introduction of MEDCO which was meant to herald a system of fairness within the market, yet since April 2015, this objective by the government has failed miserably due to advent of the shell companies abusing the system. The MOJ are stuck for now until the Judicial Review, heard in October, reports on its findings. For now the system is in limbo, as no one knows what will happen.
The biggest bombshell to the Personal Injury Sector was the chancellor’s autumn statement and his proposed changes to the personal injury market. Whist there is an air of uncertainty, what is known is that small claims limit currently at £1000 will be increased. How much this increase will be is conjecture, but it would be between £3000-£5000. What the industry is waiting for is to know whether the chancellor will stop compensation payments for people in accidents, where the level of compensation is below the limit set. If so, a claimant in a Road Traffic Accident would not be able to claim compensation for injuries and time off work, whilst they could claim compensation for delays in flights. This may also cause an mass increase of small claims court cases. We monitor the industry press and industry bodies for more information. As the changes becomes clearer we will let you know. The market is waiting with bated breath for what happens next.