Government reveals recalculated Ogden rate
The increase is not as generous as many had expected.
The Ogden discount rate will be increased from -0.75% to -0.25%, reducing the amount insurers will have to pay to accident claimants.
The new rate will be effective from 5 August 2019, and will be reviewed within a five-year period.
A statement from Lord Chancellor and Justice Secretary David Gauke MP announcing the change was published this morning (15 July).
The Lord Chancellor wrote: “Having completed the process of a Call for Evidence and statutory consultation with the Government Actuary
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