press release

LV= responds to small claims limit report

Following the report from the Justice Select Committee into the small claims track limit, here’s a comment from Martin Milliner, Director of Claims at LV= General Insurance.

“Indexing the small claims limit of £1,000 from 1999 is misplaced as it assumes that the world of “whiplash” has been frozen in time. The pervasiveness of CMCs, the cold calling epidemic, alternative means to accessing justice and the industrialisation of the end to end value chain of a whiplash claim is irreconcilable to that of 1999. If the limit is not raised to £5,000, then the reforming nature of the Bill will be put at risk, leaving those who are riding the whiplash gravy train still partying like it’s 1999.”

About LV=

LV= employs over 6,000 people and serves over 5.8 million customers with a range of financial products. We are the UK's largest friendly society and a leading financial mutual.

When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products.

We are currently the UK's number one brand for Insurance and Investments, according to the 2015 YouGov Brand Index Buzz Rankings.

We offer our services direct to consumers, as well as through IFAs and brokers, and through strategic partnerships with organisations such as ASDA, Nationwide Building Society and a range of trade unions.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. LVFS is a member of the ABI, the AFM and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.