ABI opts against legal challenge to Ogden rate decision
The Association of British Insurers will not be proceeding with a legal challenge to the “misguided and incorrect” decision to set the Ogden personal injury discount rate at -0.25%, the organisation has confirmed.
According to the ABI setting the rate at -0.25% “represented a material departure from the principle of awarding 100% compensation and resulted in higher costs for motor insurers”.
“We considered
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