Helmot damages award may lead to rise in premiums

Friday 15th October 2010, 2:29PM BST.

glyn smith MOTOR insurance premiums are set to rise as a result of a record UK payout to Manny Helmot.

The former Commonwealth Games cyclist was originally awarded £9.3m. for the injuries he suffered when struck by a car in 1998 but the Guernsey Court of Appeal increased that to £13.7m.

The ruling has sent shockwaves through the insurance industry, which is preparing itself for the strong likelihood of larger claims.

Insurance Corporation of the Channel Islands managing director Glyn Smith (pictured) said the frequency and size of claims were key factors in pricing for motor insurers.

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1
Mr G

October 15, 2010 at 5:19 pm

What would happen if all motorists boycotted insurance?

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2
simon

October 15, 2010 at 8:56 pm

Its about time the insurance industry got real and started paying out the proper amounts rather than deliberately undercutting their liabilities.

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3
Paul Le Page

October 17, 2010 at 8:52 pm

Mr G – we would have busy courts, empty roads and a large increase in the States coffers through the fines – an environmentalist’s dreamworld!

I’ve just had an idea – perhaps every other motorist apart from me could boycott insurance. I could have the roads to myself :-)

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