OIC figures remain underwhelming
11th October 2022Tweet
New data has revealed that 71,191 claims were submitted to the Official Injury Claim (OIC) portal between 1 July and 30 September, of which just 6,378 (nine per cent) were unrepresented claims.
The OIC service was developed by the Motor Insurers’ Bureau on behalf of the Ministry of Justice with the intention of making it easier to submit personal injury claims without a lawyer.
Since its launch, 351,409 claims have been submitted to the OIC, 319,916 of which have been represented.
The most recent data has also revealed that 19,921 claims were settled between July and September, 17,488 of which were represented, or 88%.
However, the OIC says there is an additional cohort of claims emerging which have settled but not yet fully progressed through the portal journey. Referred to as ‘open settlements’, it says there are currently 6,584 awaiting final completion.
Meanwhile, the average time from claim to settlement increased from 175 days in the previous three-month period to 208 days between July and September. The OIC expects this trend to continue as it receives claims with more complex injuries.
To date, the total number of settled claims through the OIC now stands at 54,469.Tweet