Is the dust settling on the new discount rate?

A month ago today, one of the final acts of David Gauke MP during his time as Lord Chancellor was to decide to set the new personal injury discount rate for England & Wales at -0.25%, with this being only a marginal increase on the -0.75% figure which had applied from March 2017. The new legislation requires a review of this within five years, so will anything relevant realistically happen in the interim?

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The JSB Green Book – guidelines for the assessment of general damages in personal injury cases in Northern Ireland

The Judicial Studies Board for Northern Ireland has published the fifth Edition of the ‘Green Book’ following the recommendations of a Committee chaired by Lord Justice Stephens.  Access to the online version of the Guidelines for the Assessment of General Damages in Personal Injury cases is available here.

The latest edition of the Guidelines provides an increase in the figures for most injuries by around 20%. Although this is certainly a significant one-off step change, it is the inevitable result of uprating the figures in the previous edition, published in 2013, to take account of inflation since then.

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Motor insurance property damage limit rises to £1.2m for Northern Ireland

The compulsory limit for property damage cover in mainland UK motor insurance policies was increased from £1m to £1.2m on 31 December 2016.

It is not entirely clear why the separate rules needed to make this same change in Northern Ireland have taken a few weeks longer. In any event, the same £1.2m limit now applies from today and is introduced by rule 2 of The Motor Vehicles (Compulsory Insurance) Regulations (Northern Ireland) 2017

http://www.legislation.gov.uk/nisr/2017/25/contents/made


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Written by Alistair Kinley, director of policy and government affairs at BLM