Discount rate
LV eyes premium increases following £13m Ogden blow
LV has been hit with a £13m blow as a result of the Ogden rate, which the insurer said could push up premiums by 1%.
ABI mulls legal action against government over discount rate
Exclusive: The Association of British Insurers is considering legal action against the government, after the Ogden discount rate was set at -0.25%.
Analysis: Discount rate decision casts a shadow over personal injury settlements
The personal injury discount rate will be set at minus 0.25% from 5 August providing certainty for insurers and claimants alike, but uncertainty created by the Ministry of Justice review behind the new rate could have left claimants – as well as insurers…
Insurers warn of rise in motor premiums following the discount rate decision
Government changes to personal injury calculations are set to add to motor insurance costs going forward, insurers have warned.
This week: Gaukward moment for insurers following Ogden change
It was around Spring when office chat turned to the trend of insurers bolstering full year accounts through claims reserve releases.
Insurers attack 'misleading and wholly disingenuous' discount rate impact assessment
The impact assessment issued to parliament in relation to Lord Chancellor David Gauke’s decision to set the discount rate at minus 0.25% has been called “misleading and wholly disingenuous” by Huw Evans, director general of the Association of British…
Hastings reveals Ogden rate hit
Hastings shares fell this morning after saying the Ogden rate change to minus 0.25% would result in a one-off £8.4m blow.
Analysis: Industry faces financial blow from discount rate revision
Insurers that have been pricing and reserving using a discount rate of between 0 to 1% may face a short term financial hit, analysts have warned.
‘Bad outcome’ for industry as discount rate revised to -0.25%
The government has set a new discount rate of minus 0.25% - a much lower number than the expected 0%.
Discount rate: Are insurers being too optimistic?
In anticipation of the new discount rate announcement, expected by 5 August 2019, many insurers have already started to price and reserve at 0%
Claims costs drive an increase in van insurance premiums
Claims costs have driven an average premium increase of 35.1% since April 2014, Consumer Intelligence has found.
Trade Voice: Foil's James Heath on the Civil Liability Act
The Civil Liability Act was passed in December, changing the way whiplash claims are calculated. As part of the bill, the government also agreed to reform the discount rate, which is currently under review. James Heath, President at Forum of Insurance…
Blog: Aquiline's recommitment to ERS highlights turnaround success after dark days of IAG
Jonathan Swift reflects on the turnaround at ERS and why Aquiline might have decided to wait to sell the motor insuer
Motor premium upturn 'on the horizon' after modest Q4 price cuts: Confused and WTW
The price of car insurance fell 1.6% in the first quarter of 2019 after creeping upwards during the second half of 2018, according to the Confused car insurance price index, produced in association with Willis Towers Watson.
Blog: The discount rate review – calling King Solomon
The review of the discount rate will be fraught with moral, ethical and financial hazards. Minster Law's legal services director Rachel Di Clemente explains why those involved in the decision might be wishing for some of King Solomon's wisdom.
Whiplash reforms drive £100 fall in car insurance premiums over last quarter
Car insurance premiums fell by £100 between December and February due to whiplash reforms and a six-month reduction in the number of car registrations, according to analysis by Comparethemarket.
Special Report: Motor Insurance Research 2019
What’s fueling motor insurance today? Michele Bacchus talks to the industry and gives the low-down on what’s heading down the highway towards insurers in both the fast and slow lanes
LV in U-turn over home business
LV plans to build on the home book it picked up from Allianz business transfer, despite losses in the segment last year.
Industry welcomes launch of discount rate review: updated
The government has launched a widely-anticipated review into the Ogden discount rate.
Direct Line profit drops despite Ogden rate releases
Direct Line saw operating profit drop, despite reserve releases ahead of an anticipated Ogden rate revision.
Ageas UK says long goodbye to Ogden impact as CEO Watson hails ‘strong’ motor performance
Ageas UK saw a threefold increase in profitability in its 2018 full year results, reporting a profit of £76.7m compared to £25.4m in 2017.
This week in Post: Couples and coupes
With Valentine’s Day yesterday, the Post team started the week by bracing ourselves for an inevitable slew of romance-related press releases. We weren’t disappointed.
Blog: Discount rate - the light at the end of the tunnel
The road to reform on the personal injury discount rate has been long and winding but Deborah Newberry, head of corporate and public affairs at global law firm Kennedys, suggests with the strict timetable in the law there is a light at the end of this…
Interview: James Heath, Forum of Insurance Lawyers
Late last year, James Heath was appointed the 23rd president of the Forum of Insurance Lawyers, succeeding Stephen Hines. He speaks to Post about the legal issues facing the industry.