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Government brushes aside MPs’ discount rate change caution
The government has rejected the view of MPs that there is insufficient evidence to change the way the personal injury discount rate is calculated. But it agreed to “develop further” the existing evidence base ahead of setting the rate in the first review.
ABI boss avoids saying how much insurers will gain from new discount rate
Huw Evans, director-general of the Association of British Insurers, has avoided putting a figure on the money insurers will save from an anticipated increase in the personal injury discount rate, despite repeated requests at the justice select committee this morning.
Discount rate should be not be more than 1%, insurers say
Most insurers believe the personal injury discount rate should not be increased above 1%, according to a poll by City firm BLM. Partner Antony French told a webinar hosted by the firm, which specialises in insurance work, that damages awards of over £10m had become “common”.
MDU calls on GPs to lobby election candidates over discount rate
The Medical Defence Union has launched a campaign called ‘Save General Practice’ to push for changes to the personal injury discount rate. The MDU called on doctors to raise the issue with election candidates. It was one of several responses to the government consultation that has recently closed.
APIL anger over discount rate delay
The Association of Personal Injury Lawyers (APIL) has reacted angrily to confirmation from the Ministry of Justice (MoJ) of a further delay to the review of the discount rate for personal injury cases.
Government discount rate research highlights claimants’ investment caution
Research commissioned by the Ministry of Justice into the discount rate contradicts the premise of a government consultation that claimant recipients of lump sum compensation payments tend not to invest them as cautiously as is assumed.
Discount rate: an unreal construct or necessary to protect 100% compensation?
The sharp divide in opinion over the future of the discount rate came to the fore this week, with the argument that it should be set by reference to what claimants are actually going to do with their money countered by the claim that this would constitute an attack on the principle that injured people should receive 100% of their compensation.
New APIL president issues discount rate injustice warning
An attack on the discount rate “would constitute one of the gravest injustices of all”, the new president of the Association of Personal Injury Lawyers (APIL) has warned as he set out his stall for the next year. Barrister Matthew Stockwell will take the reins on Thursday.
Action stations as JR date, new CPR and discount rate consultation are all published
The judicial review over the government’s proposed cut in RTA portal fees will be heard on 1 March, it emerged yesterday amid a flurry of developments that finally saw the revised Civil Procedure Rules, and the second consultation on setting the discount rate, published by the Ministry of Justice.
Lord Chancellor receives polarised response to discount rate consultation
The stark choice facing the Lord Chancellor over how to set the discount rate was laid out yesterday as the Ministry of Justice consultation closed with responses from either side of the personal injury divide showing diametrically opposed stances.
