Enterprise Ogden claims hit revealed – report
The liquidator’s report has shown that bust Gibraltar insurer Enterprise must pay out £101.4m extra in claims partly due to changes to the Ogden rate.
Enterprise Insurance’s claims bill has increased to £157.1m as reported by sister publication Post.
A liquidator’s report revealed that the business, which went into administration in 2016, originally expected claims in the region of £55.7m.
Post detailed that the reduction of the discount rate meant that twelve high value claims shot up in value by a total of £25.9m.
Increases
These claims further increased in value by £23m between July 2016 and June 2017, owing to other factors.
The
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