InterResolve, the independent claims resolution specialist, today announced a price guarantee for claimant costs under its Bodily Injury Claims Scheme.

Thought to be the first arrangement of its type in the UK, the guarantee means that costs for straightforward personal injury claims settled under the Scheme will be fixed at a maximum of £800, including legal advice for claimants, medical fees, anti-fraud checks, rehabilitation assessments, any settlement mediation and InterResolve’s own costs.

Figures from the Association of British Insurers (ABI) identify average claimant costs for most claims are in the region of £4,300 (1). InterResolve’s costs guarantee represents a saving of approximately 80% for insurers. More complex claims will also be covered by a similar costs guarantee which equates to a saving of around 45% when compared to ABI quoted figures.

Peter Ashdown-Barr, CEO of InterResolve, said: “With the majority of personal injury claims being straightforward, legitimate claims don’t need a litigation process with thousands of pounds of cost and lengthy delays – they need to be settled.”

The price guarantee has already been taken up by a number of insurers including AXA Insurance who are currently piloting the Scheme

David Williams, Claims Director of AXA Insurance, said: “The current process is too expensive, adversarial and inefficient. Therefore, we are pleased to be working with InterResolve on a system that will correct the proportionality of fees problem, whilst still delivering or even improving on the quality and efficiency aspects.”

The InterResolve Scheme enables insurers to start their claims investigations much earlier. InterResolve checks for fraud or exaggerated claims and provides claimants with access to independent legal advice on the value of their claims in all cases. Most of these cases are expected to settle within three to nine months bringing the benefit of speedier settlement to claimants.

The InterResolve Scheme also provides access to an extensive range of arbitration, mediation and other alternative dispute resolution services through agreements with the Chartered Institute of Arbitrators’ ADR service provider arm, DRS-CIArb, and mediation specialists ADR Group. These arrangements are available as an option and there is an opt-out under the scheme for those cases that actually need litigation.

InterResolve launched its Bodily Injury Claims Scheme earlier this year, providing claimants with access to independent legal advice on personal injury claims without the need to retain law firms where liability is admitted – a first in the UK. The advice is provided by is provided by members of LawAlliance, the UK-wide claimant lawyer network set up specifically for the Scheme.