RTA Fast Track Premium reduced to £90
12 February 2009
As a result of our continuing innovation, Temple is delighted to announce the introduction of a £90 premium for RTA cases.
In 2001, Temple introduced a staged premium model which was approved by the judiciary in a number of case decisions and, as a result, this model became the accepted market practice which has been adopted by the majority of ATE insurers.
In 2007 we introduced an additional step to the premiums, which provided for a significantly reduced premium if liability was admitted during the protocol period. The premium for RTA cases was reduced from £350, to £225 plus IPT.
We have now reduced that premium to £90 plus IPT, which we believe to be the lowest in the market. The opportunity to offer such a significant reduction is due to the commercial success of Temple’s insurance products, coupled with prudent and experienced underwriting.
David Pipkin, Director of Underwriting Division, commented “I believe that this change will fit comfortably within the proposed shortened ‘protocol period’ for RTA claims of under £10,000 in value and will offer encouragement to opponents to settle earlier”.
Not content with such a bold move, Temple is now to introduce a ‘protocol stage’ premium for clinical negligence cases with a proportionate reduction of the premium, which we again believe, will become the lowest in the market.
