Industry welcomes passing of Civil Liability Bill ahead of Royal Assent

Insurers have welcomed the passing of the Civil Liability Bill through the House of Lords yesterday (20 November).

The Bill, which looks to reform high whiplash costs, will go through no further amendments and could be granted Royal Assent within a matter of days ahead of legislation which is expected in 2020.

This will also address how the discount rate, otherwise known as the Ogden rate, should be set following the shock rate cuts from 2.5% to -0.75% in 2017. If it becomes law however the rate