News Analysis: Ogden upheaval continues as government unveils fresh proposals
Volatility goes on despite plans to legislate on how rate is calculated
Brokers have lamented the instability caused by the shock change to the Ogden rate and said, despite plans to legislate over how the figure is calculated, volatility could continue until the rate is reset from its current minus 0.75%.
The most recent stage in the discount rate rollercoaster saw new Lord Chancellor and Justice Secretary, David Lidington, unveil proposals to change how the rate is calculated. Experts suggested that if the steps are implemented the rate could settle at 1%.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
IPT hits record £8.1bn in 2023/24
Insurance Premium Tax receipts totalled a record £8.15bn in 2023/24, up 11.4% on the year before, HMRC has confirmed.
Zurich strikes five-year capacity deal with MGA Freedom Services
Zurich has signed a five-year capacity deal with MGA Freedom Services that will see both re-enter the telematics market, Insurance Age can reveal.
Intellectual property – how can brokers help clients insure the intangible?
There is more intellectual property in existence today than ever before – and its value is growing at a faster rate than physical assets. Martin Friel explores what products exist to help brokers protect their clients’ intangible assets and why SMEs are as much at risk as corporates.
Imarket grows to five live broker systems with Bravo Digital Trader
Polaris has added Bravo Digital Trader as the fifth broker system to use imarket, joining its portfolio of Acturis, Applied, Open GI and SSP.
RSA and NIG brands to become one next year but undecided on name
In an update to brokers on the NIG deal, RSA commercial lines managing director Sonya Bryson explained there will still be two sets of products and systems on 1 May, with all remaining the same in the short term.
People Moves: 15 – 19 April 2023
Stay in the loop with the latest insurance personnel moves.
Pen inks £150m social housing capacity deal with SiriusPoint
Pen Underwriting has announced a new long-term capacity deal with SiriusPoint.
Biba Conference 2024 countdown: FloodFlash’s Ciana Kenny
Ciana Kenny, senior distribution manager at FloodFlash, promises sensor demos on its stand, looks forward to the Friday stand-up feedback and advises delegates to ‘stay hydrated’.
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Pen inks £150m social housing capacity deal with SiriusPoint
- RSA and NIG brands to become one next year but undecided on name