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ARTICLE · 11 SEPTEMBER 2017

Claims Management Companies Experience Serious Downturn

Clyde & Co
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The last 12 months witnessed the CMR stepping up its enforcement action and cracking down on non-compliant behaviour.

United KingdomLitigation, Mediation & Arbitration
Clyde & Co LLP
Clyde & Co LLP
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The Claims Management Regulator (CMR) has released its 2017 annual report summarising the regulator's main developments and achievements in claims management regulation over the last 12 months.

Claims management landscape

The last year has seen the number of authorised CMCs reduce by 21% from 1,752 in 2014 to 1,388 in 2017. This is likely due to regulatory reforms and a continuingly changing claims market which has impacted the number of new applications. Only 107 new applications were made in 2016/17 compared to 304 made in 2014/15.

In particular, the personal injury (PI) sector saw a reduction in turnover of 41% in the last two years from £309.7m to £182m. However, despite this, the PI sector is still one of the main sectors dominating the CMC market share alongside the financial claims sector.

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