Ogden rate change to -0.25% a ‘disappointment’ for insurers and buyers

UK Lord Chancellor David Gauke Credit: Chris McAndrew [CC BY 3.0 (https://creativecommons.org/licenses/by/3.0)]

Insurers have warned that change of the UK’s personal injury compensation rate to -0.25% from -0.75% is not enough to prevent overcompensation and will impact the cost of insurance. The UK’s Lord Chancellor’s department announced the Ogden rate change this morning. The rate is applied by courts when large compensation sums are awarded, to adjust for investment returns. Insurers had…

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