Ogden Tables (discount rate changes on Personal Injury claims)
This presentation is a must for anyone working within the general insurance industry as it covers arguably the most important topic to hit the industry in over ten years. The Ogden table changes will cost the UK insurance industry over £7 billion in a one-off adjustment and in excess of £2 billion per annum thereafter. Rates will rise by between 10-20% on a lot of classes of business, especially after the renewal of reinsurance treaties because reinsurance premiums are expected to double. It is essential brokers can explain the premium hikes to their clients and this presentation will enable them to achieve this, as well as providing underwriters and claims staff with a clear understanding of how their roles will be affected. The presentation is aimed at all levels and will be pitched to give a clear understanding for all.
Alan Chandler has undertaken operational management roles in three major global companies. NatWest Insurance Services, RBS Insurance Group and Allianz Insurance. He has run underwriting, broking and claims functions. Ten years ago he set up his own training company, something that he had always longed to do as he is passionate about training. Since then he has trained well over a thousand people to become ACII qualified.
- understand the difference between special and general damages in liability claims
- understand how the Ogden table rates affect liability claims
- understand how the recent change in discount rate will affect premiums in the market place
- understand the capital implications for insurers following the Ogden table change
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.