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RAC comments on proposal to get experts to set rate used to calculate personal injury payouts

RAC comments on proposal to get experts to set rate used to calculate personal injury payouts

News   •   Mar 30, 2017 13:07 BST

Experts may be called in to set the discount rate used to work out personal injury payouts after a backlash brought about by increasing insurance costs for motorists and a near-£6bn bill in the running of the NHS.

RAC reacts to personal injury compensation Discount Rate change

RAC reacts to personal injury compensation Discount Rate change

News   •   Feb 27, 2017 11:57 GMT

The Government has cut the 'Ogden' Discount Rate from 2.5% to -0.75% meaning compensation pay-outs in life-changing personal injury cases are expected to rise sharply. The measure, announced by Lord Chancellor Liz Truss on Monday to the London Stock Exchange, will affect financial awards given to victims of medical negligence, car crashes and other incidents.