Industry welcomes Ogden rate reform proposals
Biba calls for speedy implementation of these proposals.
The British Insurance Brokers’ Association (Biba) has welcomed the government’s proposed changes to how the Ogden rate is set and called for a “speedy timeframe for implementation”.
The measures announced by the Lord Chancellor David Lidington, which will need to be approved by Parliament under new legislation, could see the rate - also known as the discount rate - move up to in the region of 0% to 1%.
Under the proposals the rate will be reviewed at least every three years and an independent
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