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| less than a minute read

Finally the new discount rate is announced....

Just a brief post on this to flag up the change for those who haven't yet seen it... the whole basis of PI settlements now changes... but not by that much perhaps.  Insurers and NHSLA have recently been settling claims at settlement meetings upon the basis of a notional 0-0.5% rate with claimant advisors fearing that the "realistic basket of investments" basis of assessment could lead to a rate in the range 1-2% (pace Jersey's recent legislative reform in this area) and severe reductions in the value of long-term future loss claims.  Fortunately sense appears to have prevailed for now in these times of negligible return on investment.

Press release Lord Chancellor announces new discount rate for personal injury claims The Lord Chancellor has today (15 July) announced a change to the way personal injury compensation payments are calculated – setting the Discount Rate at minus 0.25%.


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