General Insurance Article - ABI will appeal discount rate court ruling


ABI Director of General Insurance Policy, James Dalton, comments on the discount rate ruling

 “We are disappointed with today’s ruling and will appeal. It is vital that claimants get the compensation they are entitled to. Insurers are open to a proper dialogue on how to reform the system, but caving in to legal threats from personal injury lawyers is not the way for the Ministry of Justice to do it. 

 “Despite consulting over three years ago and not letting anyone know the outcome of that process, the Lord Chancellor seems to want to rush out a new discount rate at a time of significant global financial uncertainty. While we welcome today’s commitment not to make an announcement before the 31st of January, we call on the Lord Chancellor to provide a considered timeline which gives all stakeholders the opportunity to engage in a constructive dialogue on the way forward.”
  

Back to Index


Similar News to this Story

Ethnicity Pay Gap reporting must go beyond biggest employers
Ethnicity pay gap (EPG) reporting involves measuring and publishing the difference in average pay between employees from different ethnic backgrounds
Regulators combine to tackle poor claims management practice
The Financial Conduct Authority (FCA), Solicitors Regulation Authority (SRA), Information Commissioner’s Office (ICO) and the Advertising Standards Au
9 in 10 firms interested in insurance cover for Gen AI risks
Businesses worldwide are rapidly embedding Generative AI (Gen AI) into products, services and internal operations. While this brings significant oppor

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.