Part of it will be down to your 200,000 figure being way out.
I'm not sure what the above link classes as injury/casualty, but maybe this (http://assets.dft.gov.uk/statistics/tables/ras40007.xls) was your source for 200,000(?), meaning you counted injury claims only.
And those numbers don't seem to include whiplash, since a comprehensive 2010 study by the ABI, definitely worth you reading (http://www.publications.parliament.uk/p ... 91we05.htm), counted 432,000 annual whiplash claims alone(!!!)
That's also not accounting for the fact that the majority of incidents on the roads don't result in any injury at all, just vehicle repair and other property damage.
If you want to try to calculate an approximate "actual cost" then the actual UK claims frequency of between 10-20% (http://www.datamonitor.com/store/Produc ... d=DMFS2495) should be your starting point given that we can assume it's based on all the actual available data. You'd need to factor in average claim cost from somewhere too, and I suspect you'll end with an answer that more closely resembles the fact that insurance companies have operated at an underwriting loss in the UK for the last 15 years and so can't have been scamming the public (source: ABI report above)
HVYMTL wrote:I've heard it said recently that the premiums are having to rise because they are paying out more in claims than they are taking in. This has to be bullshit. I suspect it's more likely to be because the ambulance chasers and fat-cats are massively exploiting the captive audience and red tape.
It's not bullshit because these are one and the same thing. Increase in "accident management companies" and ambulance chasing solicitors taking advantage of the public's eagerness to never accept responsibility and always put in a claim (even make one up!) leads to what? Insurance companies paying out more in claims than they take in!