Insurance -
NHS compensation to drive up price of insurance premiums - 22/02/2008
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A move by the National Health Service to claim back more money from underwriters for car accidents and injuries in the workplace will push up insurance premiums, it has been claimed.
The Telegraph reports that insurers will increase premiums after the NHS announced it is increasing its charges for underwriters by up to eight per cent from April 1st.
Under the Injury Costs Recovery Scheme, the NHS can claim back money from underwriters which insure an employer or motorist who is responsible for an accident.
Under the new limits imposed by the scheme the NHS will be able to claim back a maximum of £672 when a person is admitted to hospital and treated after a car crash or workplace accident - an increase of £52.
An ambulance journey currently costs insurers £159 but this will increase to £165.
Chris Hanks, general manager of Allianz Commercial, told the Telegraph: "Insurers will bear a greater responsibility for the financial costs of the treatment of injured persons. This will translate into additional claims expense, which will need to be funded by increased premiums."
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