This market briefing is a two-part Casualty Update which will address the key topics on the Personal Injury Discount Rate, E-Scooters and Vnuk.

Part 1: 05 July 2021 – Personal Injury Discount Rates: jurisdictional analysis
Part 2: 13 September 2021 – RTA Insurance Update: compulsory insurance – Europe & e-scooters

Description

Part 1 – Personal Injury Discount Rates: jurisdictional analysis
In recent years, reviews of discount rate legislation have resulted in significant change in rates. Lower rates around the UK have led to substantial increase in lump sum claims costs for (re)insurers.
On 31 May 2021 Northern Ireland followed England & Wales and Scotland in resetting its discount rate at a negative level, with -1.75% now applying. At this market briefing, Alistair Kinley (Director of Policy & Government Affairs, BLM) will discuss the reasoning behind this dramatic change, its implications for (re)insurers and why hopes for further change rest on The Damages (Return on Investment) Bill currently before the NI Assembly.

Alistair will review the discount rate landscape in other key jurisdictions, focusing on England & Wales, Scotland and Ireland. He will consider forthcoming review periods and discuss the potential shift towards dual-rate models and what these might mean for (re)insurers operating in the London Market.

Speaker

• Alistair Kinley, Director of Policy & Government Affairs, BLM