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 review
- Court knocks out top cage fighter's whiplash claim
- Midas takes on Direct Group’s commercial business
- MP tables motion in Parliament urging government to freeze IPT
- Markerstudy confirms 27 redundancies
- Amazon states “disruption” plans in job advert
- Go Compare rejects £460m Zoopla-owner bid
- Una Conference 2017: MRIB joins Una Alliance