New OFESAUTO SEMINAR!  HIGHLIGHTS on the UK motor insurance sector

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17 Apr 2024 | General news

Let’s delve into the details of the new seminar organized by OFESAUTO in Madrid! 

This seminar, scheduled for May 22, will cover two intriguing topics.

The Official Injury Claim Portal in the UK: A Win-Win for Victims and Insurance Companies 

The Official Injury Claim (OIC) portal is a free, impartial, and independent service developed by the Motor Insurers’ Bureau (MIB) on behalf of the UK Ministry of Justice. Launched on May 31, 2021, it is designed to help individuals who have suffered minor injuries in a road traffic accident to claim compensation without legal help. 

Benefits for Victims 

  • Accessibility: The portal is designed to be user-friendly, guiding victims through the process of making a claim, managing that claim, and receiving compensation. 
  • Cost-Effective: The service is free to use, enabling victims to claim compensation without incurring legal costs. 
  • Transparency: The portal provides a ‘Claim overview’ page that offers a summary of progress and next steps, and a ‘Key information’ sidebar that gives definitions and explanations of legal terms. 

Benefits for Insurance Companies 

  • Efficiency: The portal streamlines the claims process, making it quicker and more efficient. 
  • Cost Reduction: By facilitating victims to make claims without legal help, the portal helps to reduce the legal costs associated with claims. 
  • Fraud Prevention: The reforms introduced alongside the portal aim to curb exaggerated or fraudulent claims, which can inflate insurance premiums. 

The OIC portal represents a significant step towards making the claims process more accessible and efficient for all parties involved.  

The Automated Vehicle Bill (2023) in the UK 

The UK Automated Vehicles Bill 2023 is a crucial piece of legislation that sets the legal framework for the safe deployment of self-driving vehicles in Great Britain. It was jointly developed based on recommendations from a 4-year review of regulation for self-driving vehicles conducted by the Law Commission of England and Wales and the Scottish Law Commission.  

Here are some key points about the bill: 

  1. Legal Framework: The bill provides the necessary legal structure to facilitate the introduction of autonomous vehicles on British roads. It addresses issues related to liability, insurance, and safety. 
  1. Safety Assurance: By establishing guidelines and regulations, the bill ensures that self-driving vehicles meet stringent safety standards. This is essential to build public trust and confidence in autonomous technology. 
  1. Insurance Implications: The bill has significant implications for the motor insurance sector. Here’s how: 
    • Automated Vehicle Insurance: The bill mandates that insurers cover accidents involving autonomous vehicles. However, the focus shifts from individual driver liability to product liability. Insurers will need to adapt their policies to account for this shift. 
    • Product Liability: Manufacturers and software developers of self-driving systems will be held liable for accidents caused by their technology. This change impacts the insurance landscape, as insurers may need to collaborate closely with manufacturers to assess risks. 
    • Data and Telematics: The bill encourages the use of telematics and data-sharing to determine liability accurately. Insurers can leverage real-time data from autonomous vehicles to assess risk and claims. 
    • Collaboration with Insurers: Insurers must collaborate with industry stakeholders, including vehicle manufacturers, technology providers, and regulators. This collaboration is essential to navigate the complexities of insuring autonomous vehicles. 

About the Speakers 

Dominic Clayden has been the CEO of MIB since 2018 and has played a central role in some of the organization’s most significant achievements, including the development and launch of the Official Injury Claims portal. He will be leaving MIB in June after six successful years with the organization. 

Nick Robbins As Chief Technical Officer at the MIB Nick is responsible for building strong relationships with the Government, Civil Service departments and the European Commission, among others. He works closely with public affairs teams across the insurance industry to understand what policy changes are on the horizon and to influence areas of common interest by speaking with one voice.

The seminar will take place at the Auditorio Plus Ultra Seguros, Plaza de Las Cortes 8, Madrid. If you work in the automotive insurance sector and deal with claims related to foreign vehicles, this seminar is highly relevant for you. The agenda includes presentations, discussions, and networking opportunities. 

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