IRN’s 2017 Personal Injury Market Report Published – No Silver Lining for the Sector
26 Sep 2017
The UK Personal Injury Market Briefing 2017 is the fourth edition of an annual Legal Market Briefing from IRN Research.
The personal injury market, including clinical negligence, is a large market, worth almost £4bn annually but while it is still growing modestly in value terms, it is declining in volume terms. The rise in value represents a major rise in the value of clinical negligence claims and the rising average value of claims related to motoring accidents, employer liability accidents, and public liability cases.
The Government is intent on bringing in new legislation which will negatively impact on the market. The impact of these changes is likely to be felt from 2019 onwards. IRN Research expects the personal injury market to grow modestly in value terms between 2017 to 2018 but it will decline in 2019 as the new rules impact. Thereafter, once the new rules have bedded down, the market is likely to see renewed, modest value growth. Underlying volumes, however, will continue to fall.
Between 2017 and 2021, the market is expected to grow by just 1.6% in value terms, reflecting a decline in the market from 2017 to 2019 as the new reforms take effect.
An IRN survey of a panel of practitioners confirms the weaknesses in the sector with only 35% of those surveyed expecting increases in workload in the next 12 months (compared to 48% in 2016).
The briefing (61pp, PDF), is available directly from IRN Research, priced at £180. UK sterling price is plus VAT so total price is £216. Email firstname.lastname@example.org to order a copy or visit our Reports page to order from this website using Paypal. Content details also on Reports page.
Other Personal Injury Related News and data from IRN
Established in 1991, IRN Research is a research agency with a focus on the legal services market. We offer a range of research services to law firms and suppliers to the sector. For further information, contact David Mort on +44(0)7905 239599 or email@example.com.