Press release: 11/05/2017
"Brits are drowning in a deluge of unwarranted calls and texts. In fact, the problem is now so bad that one in three Brits (33%) receive more nuisance calls and texts than they do from friends and family.
A significant proportion of these approaches are from lawyers or claims management companies trying to encourage individuals to make a personal injury claim even though overwhelmingly the majority of the people receiving them have never been involved in an accident for which they could make a claim.
The Information Commissioner’s Office (ICO) is on course to receive 175,000 complaints about unwanted promotional calls and text messages this year as this activity hits records numbers
Whilst the ICO can fine companies that bombard individuals with nuisance calls up to £500,000, these fines are rarely paid as they are visited upon the company who usually ceases trading, as opposed to the individuals that own the company and profit from this activity.
LV= is calling on the law to change so that the regulation of Claims Management Companies shifts to the Financial Conduct Authority (FCA) and that the fines imposed on poor or illegal practices are visited up the individuals that run these companies, so that honest motorist can see their premiums reduce by £60 on average.
Not only are these unwarranted messages annoying millions of us, but they also lead to people attempting to make fraudulent claims. Insurance is there to pay out for people who have actually been injured, not for people hoping to make some money illegally. We take a hard line on fraud and will push for the toughest sentence.
The Government whilst saying all the right things has been far too slow in putting any of the right action in place to tackle this long running epidemic. We are calling for the amendment of the current rules to make them stricter and more personalised, together with seeing tougher regulation through the FCA."