Business
Re Ministry of Justice Ban on Referral Fees
Re Ministry of Justice Ban on Referral Fees.
About this update from Admiral Group Plc
[{"type":"text","content":"\n \nRNS Number : 9445N Admiral Group PLC 09 September 2011 \n \n\nAdmiral Group plc\n9 September 2011\nStatement on Ministry of Justice Ban on Referral Fees\n \nAdmiral Group notes that the Ministry of Justice has confirmed it will impose a ban on the payment of referral fees in personal injury cases. Admiral welcomes any action taken to curb the compensation culture that currently exists in the UK motor insurance market.\n\nWe reiterate the disclosure provided during 2011 interim results presentation:\n\n- Admiral does not sell customer data; if one of our policyholders has a non-fault accident, suffers a bodily injury and they require assistance, we will put them in touch with a personal injury lawyer\n- Personal injury referral fees account for a small proportion of profits; c6% of UK car insurance profit before tax\nAdmiral will consider appropriate action as and when further details of the implementation of the ban are made available.\n\n\nFor further information please contact:\nLouise O'Shea, Investor Relations 029 20434384\nLouisa Scadden, Communications 029 20434394\n \n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCLLMATMBIMMBB \n ","length":1818,"tagName":"div"}]