The Hire Way: First Edition - February 2014
Published 18 February 2014
Welcome to the first edition of the 'Hire Way'; DAC Beachcroft's new quarterly credit hire newsletter.
DAC Beachcroft's credit hire team operates across three locations (Birmingham, Newport and Glasgow) and consists of over 90 lawyers, intelligence specialists and support staff. In 2013, the team saved their 39 client's over £10.1 million, and the race is already on to improve that saving for 2014.
The aim of our newsletter is to provide feedback and tips on how we can work effectively together to maximise credit hire savings.
Our mission statement is 'to pay the right amount at the right time'. With the new Civil Procedure Rules and the publication of the Competition Commissions findings, it is clear we are operating in challenging and changing climate. We hope that by sharing our experience with you we can work together to ensure a harmonious and happy 2014.
Click on any of the below cases to read more:
Spotlight on…Competition Commission
The long awaited provisional findings, remedies and report were finally released by the Competition commission on 17th December 2013, giving the insurance industry their first insight into the potential future of Credit Hire.
The Report highlighted the CC's findings that the settlement chain for non-fault claims is increasing the costs of replacement cars and repairs which in turn is passed on to the insurers of at-fault motorists, resulting in higher motor insurance premiums for all drivers.
Credit Hire Fraud - Intelligence Summaries
Our Credit Hire Intelligence team have compiled nine profiles in the last quarter on credit hire organisations and claims management companies. If you would like access to these profiles, or any further information in relation to organisations of concern, please contact Helen Bates.
Emerging trends and tactics
Click here to see our reccomendations for dealing with developing trends and tactics including:
- Challenges to our BHR evidence
- Non-disclosure of financial documentation
- Pre-issue costs on small claims