The formal and final part of the discount rate review in England & Wales started today, 19 March 2019, and must end by 5 August. The high likelihood is that this review, the first under the Civil Liability Act 2018, will deliver a rate different from and higher than the current minus 0.75% rate (which was set in accordance with the Damages Act 1996).
This legislation is due to have its final (stage 3) debate on 19 March 2019.
Some time ago I was part of a committee reporting to what was then the Lord Chancellor’s Department – now the Ministry of Justice – on unregulated claims assessors. The BBC reported at the time it was set up that “An investigation is being carried out into allegations that consumers wanting to pursue legal action are being over-charged by people who are not qualified lawyers. The suggestion is that the growing numbers of consumers seeking compensation after accidents or employment disputes are being ripped off…”