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Insurance & Reinsurance
Figures have been released by the Portal Company confirming the numbers of Claims Notification Forms ("CNFs") submitted in December 2020 for England and Wales. The figures showed a reduction in CNFs issued when compared to November 2020.
This may be surprising given that England was lifted out of a four week-long lockdown at the start of December. However, an examination of previous years' figures show a consistent and general trend of fewer claims in December compared to months prior. This may be due to a reduction in incidents giving rise to claims in previous months, or reluctance on the part of claimants and their representatives to commence claims during the festive season.
Monthly figures
The tables below show the comparison between both December 2020 and the month prior (November 2020), as well as a comparison to December 2019. As noted above, the month-to-month figures remain steady, and the year-on-year change is consistent, a similar comparison last month.
|
CNFs December 2020 |
CNFs November 2020 |
Change on November 2020 (%) |
---|---|---|---|
RTA |
35,480 |
42,145 |
-16% |
EL Accident |
1,977 |
2,419 |
-18% |
PL |
2,510 |
3,391 |
-26% |
Total: |
39,967 |
47,955 |
-17% |
|
CNFs December 2020 |
CNFs December 2019 |
Change on December 2019 (%) |
---|---|---|---|
RTA |
35,480 |
50,753 |
-30% |
EL Accident |
1,977 |
2,718 |
-27% |
PL |
2,510 |
3,412 |
-26% |
Total: |
39,967 |
56,883 |
-30% |
As can be seen from the graphs below, claims numbers have reduced in the last couple of months since the post-pandemic peaks of September and October (from April 2020 when the impact of the first lockdown was seen).
Yearly figures
As the total figures for the calendar year of 2020 are now concluded, a general comparison between 2020 and 2019 can be made. The decrease in CNFs issued in 2020 compared to 2019 is in line with the month-to-month comparisons – reductions of around 30% being the norm.
|
CNFs 2020 |
CNFs 2019 |
Change on 2019 |
---|---|---|---|
RTA |
489,644 |
688,950 |
-29% |
EL Accident |
31,205 |
43,861 |
-29% |
PL |
41,601 |
54,169 |
-23% |
A comparison of the average general damages figures across RTA, EL Accident and PL claims between 2019 and 2020 show increases of 1.4% for RTA, 4.7% for PL claims, and 5.7% for EL accident claims.
What can we expect to see?
End