Ogden rate change goes live at minus 0.75%

personal-injury-health-accident-claim

It is the first time the discount rate, which is used by the courts in England and Wales to calculate personal injury damages awards, has been changed in 16 years. The rate has been set lower than most of the industry expected. Huw Evans, director general of the Association of British Insurers, said: "The massive rise in insurers' claims costs, which makes premium rises for millions of customers inevitable, results from a wholly avoidable decision by the Lord Chancellor. "It was based on pr