Lunchtime Lecture: What next for the discount rate?

Overview:

The discount rate for calculating future losses in personal injury claims was changed earlier in the year, in March. Its reduction from 2.5% to the new rate of minus 0.75% had (and continues to have) significant effects on damages awards and case reserves, both for insurers and public sector compensators such as the health service. But within a month of changing the rate, the pre-election Government opened a consultation that hinted at new thinking on this topic.

This lecture will

• examine the underlying reasons for the rate change and its impact on insurers, insureds and intermediaries
• explore claims strategies and policy limits in light of the new negative rate, and
• consider possible future approaches and provide an update on the Government consultation

Speaker biography:

Alistair is responsible for BLM's engagement with government departments and regulators on policy and public affairs issues and consultations affecting the firm and its customers. He is coordinating BLM’s market-facing activities in connection with the implementation of the Insurance Act 2015 and managed our representations to the Law Commission and during the Bill’s passage in Parliament. He is the chair of the Bodily Injury Claims Management Association (BICMA) and is also a member of the Ogden Working Party, which publishes official actuarial tables of multipliers for use in personal injury claims.

Time: 12.30pm Buffet lunch; 1pm Lecture; 2pm Finish

Access is available through Pub du Vin entrance in Edmund St for people with mobility needs.

Lectures are provided free of charge to CII/PFS members. A £15.00 charge is made for non-members attending the lecture payable at the time of booking (Please note: If payment is not made at the time of booking online, kindly advise in the special requirements box your method of payment, e.g. cheque to follow in post).

Proof of membership is required; kindly ensure you bring along your CII/PFS PIN for registration.

If this event becomes fully booked, please email birminghaminstitute@cii.co.uk to be added to our reserves list.