Premextra
Welcome to the latest edition of Premextra, your independent take on the issues affecting personal injury professionals. April has been a big month for personal injury professionals, with both the industry and government debating the sector’s future. We’ve held back PremExtra until the very last minute to bring you a full roundup of what’s been happening. In other news, Premex Rehabilitation is delighted to announce the appointment of a new Managing Director and the company is doubly pleased to report that it has been ranked in the top 3% of UK employers by Investors In People. Thanks to all our staff and customers.
We hope that you find this edition valuable, and would welcome any feedback and views on any other subjects that you would like us to cover in future bulletins. Please e-mail us at premextra@premex.com
Investors in People
April 27, 2012Premex Services has been awarded the highest possible standard from Investors In People, placing it amongst the cream of UK employers. The company was given the IIP Gold Award; only 600 organisations have achieved this mark from more than 22,500 that have been assessed.
Premex Services has been awarded the highest possible standard from Investors In People, placing it amongst the cream of UK employers. The company was given the IIP Gold Award; only 600 organisations have achieved this mark from more than 22,500 that have been assessed.
"Premex was first awarded IIP status in 2006 and since its last review the business has grown substantially, increasing its turnover and profit margins and is now under new ownership having become part of the Examworks family of companies in May 2011," explains Mike Smith, HR Director at Premex Group. "The business now employs over 360 staff and to have achieved this award given all that has happened at the company in the past six years is very pleasing indeed.
"This is very important to Premex as an employer, and to its staff and customers," adds Mike. "We know the value of having a mark like IIP but to be acknowledged as one of the best in the country should be a source of genuine pride to everyone that works here."
Tonks: “Much to fight for”
April 27, 2012Personal injury professionals got up on their soapboxes this month. A tub thumping opening address from the new APIL president saw Karl Tonks’ words juxtaposed with a final battle against the LASPO Bill.
And so, after months of debate, amendments and numerous defeats, the government finally pushed through the Legal Aid, Sentencing and Punishment of Offenders Bill late on 25th April.
After previously invoking Financial Privilege and restricting debate time in the Commons, MPs lead by the Coalition forced through the majority of its plans, but not without causing uproar in the process.
MPs rejected crucial amendments to LASPO at its third reading on April 17th, while cries of 'shame' were directed at Justice Minister Jonathan Djanogly who helped vote through clauses which could directly affect victims of industrial diseases like mesothelioma. However, it was the minister's apparent demeanour which got most people's backs up, with the story dubbed #gigglegate on twitter after Mr Djanogly was perceived to be taking a less than serious attitude towards proceedings.
In a move most likely dubbed as 'insult to injury', Mr Djanogly's subsequent no-show at the APIL conference 24 hours later was noted by many people at the event; the minister being replaced at the last minute by his junior Robert Wright MP. He told delegates that the government was firm on the extension of the MOJ Road Traffic Accident portal and a "significant" reduction in costs from April 2013, alongside the broader Jackson reforms and LASPO plans.
To these suggestions, Mr Tonks replied in no uncertain terms at his first Presidential Address at the conference: "If I stole your wallet, would you be happy if I offered to give it you back, only with 25% of its contents removed?
"Insurers wonder why claims go up - they're as deluded as a chronic alcoholic who can't understand why he wakes up with a headache"
The APIL President went on to emphasise the body's support for the creation of a fund of last resort for untraceable employers liability insurance policies and vowed that there was still "much to be fought for".
As Premextra went to press, both sides of the personal injury profession were locking horns at the Whiplash 2012 conference, organised by Lyons Davidson Solicitors. A programme of speakers from medical experts and academics, through insurers to legislators and politicians debated the topic in significant detail. At Premex we applaud any platform for sensible debate, which this conference enabled by delivering a broad range of evidence and opinion laid out over three days. Oh, and Jack Straw was there too.
Insurers in PPO warning
April 27, 2012Insurance claims stories impacted the industry from almost every angle this month. PremExtra reviews the biggest news including how the market’s credit rating could be under threat from rising settlement costs.
Insurance claims stories impacted the industry from almost every angle this month. PremExtra reviews the biggest stories including how the market's credit rating could be under threat from rising settlement costs.
April opened with a claims story to end them all. The 'Trigger Litigation' involving Municipal Mutual Insurance finally laid to rest arguments over liability for mesothelioma which had run for almost two decades after the Supreme Court decided once and for all that insurers on cover at the time of negligent exposure to asbestos were liable for compensation. The decision was praised as the right one by most in the market, in particular firms such as Zurich which now owns MMI.
Were the next story to have been true at the time MMI first went into run off, things might have been a little different. The Law Commission has been reviewing England & Wales' somewhat archaic insurance contract law over recent years and it announced a proposal for unlimited damages in the event of late settlement. This proved ideal ground for Post Magazine's 'Good idea/bad idea' feature with International Underwriting Association director of Market Services Chris Jones in fierce opposition while risk managers trade association Airmic was represented by Technical Director Paul Hopkin who said: "no one should underestimate the huge, sometimes business-threatening consequences of such delays."
We've all got used to hearing bad news from credit rating agencies and for insurers, April was no different. This time, Moody's revealed that the system of granting Periodical Payment Orders for long term care could negatively impact the sector's credit rating owing to the requirement for insurers to buy annuities that fund PPOs. To tell the truth, this issue has existed ever since it was first mandated that judges consider them as a means to compensate claimants requiring lifetime care. The International Underwriting Association recently produced a report on their performance against more traditional lump sum awards which you can find here.
And finally, the Transport Select Committee returned with its '13th Special Report' on the cost of motor insurance, which "reiterated MPs' commitment to access to justice while also expressing encouragement at the government's "willingness" to clamp down on fraudulent whiplash claims". No great change there then!
New MD @Premex Rehab
April 27, 2012We are delighted to announce the appointment of a new managing director at Premex Rehabilitation. Mike Cutler, currently operations director of Premex Services, the company’s medical reporting business, will take up the reins at the end of May.
We are delighted to announce the appointment of a new managing director at Premex Rehabilitation. Mike Cutler, currently operations director of Premex Services, the company's medical reporting business, will take up the reins at the end of May.
The Premex Group board recognised considerable opportunity to expand the business off the back of a substantial increase in the instructions it receives from insurers and personal injury solicitors.
"Under Mike's stewardship, Premex Rehabilitation will develop and create new business streams within the Rehabilitation brand," says Simon Margolis, chief executive of Premex Group. "He has successfully led the operational side of the business over the past 3 years and with over 15 years' experience in the legal and personal injury sector, the company is excited at the prospect of his further driving the growth of Premex Rehabilitation.
"Jo French will remain in her role as Operations Director of Premex Rehabilitation," added Simon. "Jo has made a significant contribution to developing and refining a new case management system and overseeing the dramatic growth over the past 6 months. She will support Mike with the new business streams and growth plans."
Mike added: "I'm coming into a successful business that has doubled in size over the last few years, and has recently implemented a new case management system. My focus will be on continuing that growth drive across all market segments"
Finally, Premex has announced that Zoe Dean is to be appointed Premex Services' new Operations Director. "Having spent the last five years as Operations Manager, Zoe has contributed a great deal to the growth and smooth running of the Operation," said Simon. "Her appointment will ensure a seamless transition and we are confident that she will lead the Operation to further success over the coming years.
