Carole Nash has, for a long time, been a pioneer in the motorcycle insurance business, insuring around a quarter of all bikes in the UK. The Insurance broker has a keen knowledge of how bike insurance differs greatly from car insurance, meaning they provide something of a specialist service in the insurance industry.
For those less familiar with legal/business jargon, an ABS tie up is an Alternative Business Structure; a business format that has become more popular with insurers in recent years. It allows non-specialist companies into legal territory, thus giving insurance claimants greater access to things like personal injury compensation.
You’ll realise that this move is particularly relevant to the bike insurance industry when you recognize the following figure: an estimated 80% of all motorcycle insurance claimants are ‘non fault’ claims.
Bikers have nearly grown used to the inferior treatment they receive on the roads due to the security and complacency car drivers exude when driving alongside those on two wheels. Bikers are constantly side-swiped, clipped or bashed when filtering through traffic and this can lead to a number of afflictions.
The damage to your bike should always be seen as secondary to your health and many motorcycle accidents can result in fairly serious injury. This can further lead to loss of income and huge medical bills making personal injury claims a major recourse to justice. NewLaw seem to be a perfect fit for Carole Nash in the sense that they’ve already worked with the insurance giant, and they have a specialist team of motorcycle accident claim solicitors who are accustomed to the kinds of claims that will be being made.
NewLaw were established in 2004 and have since enjoyed a meteoric rise in the legal business, specializing in areas such as personal injury. Carole Nash are never slow to try and bring their clients the best possible service breakthroughs, and this alternative business structure, which combines legal firms with insurance companies, seems like an inevitable and truly forward thinking development to their overall product.
It should begin with personal injury claims and uninsured loss recovery, but Carole Nash and NewLaw will look to develop every side of their service package as their partnership develops. Seeing two of the leading lights in their respective fields come together, can only be good for the biking community.