Discount rate – two bills announced and rate change expected in medium term

This morning the Lord Chancellor issued a regulatory news story (RNS) to the Stock Exchange which confirms that new draft legislation will be brought forward to re-set the current personal injury discount rate of minus 0.75%.

Continue reading

Autumn Statement personal injury reforms: questions on the impact assessment

On 18 January Justice Minister Dominic Raab MP gave one short answer to four questions tabled by his Labour Shadow Andy Slaughter MP about the personal injury reforms announced in the Chancellor’s 2015 Autumn Statement. Mr Raab said quite simply that: The Government will consult on the detail of the new reforms in due course. The consultation will be accompanied by an impact assessment.” Continue reading

Two current Bills affecting property and casualty insurance

The Riot Compensation Bill and the Negligence and Damages Bill were listed for second reading debates in the Commons on Friday 4 December. The former touches on property insurance matters, largely, and the latter on motor and casualty covers because it targets expansion of certain elements of personal injury law.

One Bill was taken forward but the other not. This post sets out the issues raised and considers some possible impacts.

Continue reading