Personal injury (PI)
'Unknown impact' of discount rate cut to hit later in the year
Direct Line expects the "unknown impact" of the government's decision to cut the Ogden Discount rate to be felt later in the year when reinsurance costs are renegotiated.
Gibraltar insurer withdraws £20m UK motor capacity in wake of discount rate cut
A Gibraltar insurer has become the first to withdraw capacity to a UK managing general agent in the wake of the discount rate cut.
Insurers call on Chancellor to set new discount rate within a year
Industry leaders urged the Chancellor yesterday to set a new discount rate within the year, director general of the Association off British Insurers Huw Evans said.
Kennedys hires Hill Dickinson casualty team
International law firm Kennedys is to hire a 24-strong team from Hill Dickinson to boost its national personal injury practice.
Government to 'urgently' consult on discount rate cut after insurer CEO meeting
The government has said that it will “progress urgently” a consultation on the Ogden discount rate and “carefully consider” all the evidence submitted following today’s meeting between insurers and the Treasury.
QBE estimates UK discount rate liabilities of £129m
Australian insurer QBE is expecting a one-off increase of $160m (£129m) for outstanding claims liabilities following a UK Ministry of Justice decision on the personal injury discount rate.
Insurers' share prices tumble as profits hit by discount rate changes
More insurers have posted swingeing losses as a result of the discount rate cut.
Insurers to face £3bn bill from discount rate cut
Insurers could face a £3bn bill from the discount rate cut, with individual motor premiums rising by an average of £100.
Industry reacts to discount rate cut
Live reactions from the market to the decision to slash the discount rate (please bear with us as this page can take 30 seconds to load).
ABI hits out at ‘crazy’ discount rate decision, claiming it could affect 36 million motorists
The Association of British Insurers has warned that cutting the discount rate so severely was a “crazy decision” that will affect millions of motorists.
Direct Line hit by £230m profit blow from discount rate cut
Direct Line will see a blow to profits of up to £230m from the discount rate cut, the company said.
Admiral sees profit hit of up to £100m from discount rate cut
The discount rate cut will add between £140m to £175m to Admiral’s claims settlement bill, the insurer said.
Travelers to pay legal costs for PIP Breast Implant claimants
Travelers Insurance Company has to pay legal costs for a number PIP Breast Implant claimants, the High Court has ruled.
PI firms will have 'no other choice but to close' following whiplash reform
More jobs could be lost as a result of the government's whiplash reforms than were lost in the South Wales steel industry last year, Access to Justice told Post.
Expected discount rate cut shaves £10m profit from ERS
The expected discount rate reduction has shaved off £10m of profit from motor insurer ERS.
Government to raise small claims track limit for whiplash to £5000
The Ministry of Justice has confirmed there are to be fixed tariffs capping whiplash compensation payouts.
Legal Update: Motor's waiting game
The motor claims market is currently sitting in that state of indecision that business - and pilots - like to call ‘a holding pattern' as it awaits three major government consultations. These, to push the aviation analogy to its fullest, are hovering…
Law firm to pay Axa £70,000 after systematically inflating legal costs
Claimant law firm Asons has agreed to repay almost £70,000 to Axa after admitting to falsely and systematically inflating its legal costs.
Legal expenses insurers to face hit from whiplash reforms
Firms offering legal expenses insurance could face heavy losses from "draconian" whiplash reforms.
Legal Update: Discount rate review will increase cost of claims
The summer of 2001 saw Tony Blair and Labour elected for a second term, the London Stock Exchange go public, and Lance Armstrong win his third Tour de France. It is also when the discount rate was last reviewed and set at 2.5% by the then Lord Chancellor…
Motor premiums will ‘inevitably’ rise owing to discount rate changes
Motor premiums will “inevitably” rise again owing to potential changes to the discount rate, insurers have warned.
Government to rule on personal injury role of CMCs
The government is set to decide whether claims management companies are allowed to continue operating in the personal injury sector.
Post Power List 2017: Andrew Twambley
Spokesman, Access to Justice
Exoskeletons: How wearable robotics could transform medical claims
It sounds like science fiction, but exoskeletons are increasingly being used in rehabilitation therapy and insurers are getting in on the act.