Discount rate
Motor insurers set for widespread profit in 2024
EY has predicted the UK motor insurance market will return to profitability in 2024 following two years of losses, but that profitability will be short-lived..
RSA's cloud solution; Allianz's new stadium; Gallagher's managing director
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Apil’s Scarsbrook on why the personal injury discount rate isn’t about insurance
Trade Voice: Past president of the Association of Personal Injury Lawyers, Jonathan Scarsbrook, says injured victims of negligence must not be made scapegoats for the insurer’s inability to control their costs.
How Labour could reduce the cost of motor insurance
Analysis: Emma Ann Hughes examines efforts by the industry to push down motor insurance premiums and whether politicians could force providers to take more extreme action.
Foil’s Allchorne on what’s next for the PI discount rate
Trade Voice: Pete Allchorne, president of the Forum of Insurance Lawyers and partner at DAC Beachcroft, explores the potential ramifications of this year’s personal injury discount rate review.
Q&A: Pete Allchorne, Forum of Insurance Lawyers
Pete Allchorne, president of the Forum of Insurance Lawyers and partner at DAC Beachcroft, talks to Insurance Post about the big developments in the legal sphere this year.
Claims and Legal Review of the Year 2023
Looking back at 2023, law firms and claims professionals reflect on how double digit inflation hit the sector and look forward to artificial intelligence speeding-up administration in 2024.
Implementing dual PI discount rate could be ‘complicated’
Speaking at an Association of British Insurers event, a panel of experts agreed that while a dual discount rate could lead to better accuracy, it could prove to be very complicated to work with.
Top 100 UK Insurers 2023: Personal lines insurers hardest hit by inflation
Valeria Ermakova, associate director for analytics at AM Best, reveals while reserving for claims inflation is shaking the nation's insurers, actions taken by the top 10 of this year's Insurance Post Top 100 UK Insurers List helped these providers hold…
PI discount rate consultation closes ahead of 2024 review
The Ministry of Justice’s consultation into establishing a dual/multiple PI discount rate closed yesterday, with the final decision to be made in July 2024.
Gallagher buys Buck; Pen’s latest deal; Spring’s commercial PI binder
Friday Round-Up: Ahead of Good Friday and the Easter Bank Holiday, Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Is it time to overhaul the personal injury discount rate?
Ahead of the consultation on changes being made to the single personal injury discount rate closing on 11 April, Insurance Post explores what dual or multiple rate models could mean for claimants.
Q&A: Nicola Critchley, Foil
Nicola Critchley, partner at DWF, and president of Foil since November 2022, catches up with Insurance Post to discuss what she hopes to achieve during her time as president, what is on the agenda for 2023, and how the body will support member firms and…
Government launches consultation on dual/multiple discount rate
The Ministry of Justice has launched a consultation on how dual or multiple personal injury discount rate might work, and what its effects on claimants and defendants might be.
Spotlight on periodical payment orders: How do insurers manage PPO risks?
Introduced in April 2005, periodical payment orders might not have grown in the volumes some expected, but still pose challenges for general insurers not least due to their similarity to longevity life risks. Post spoke to both insurers and other…
Interview: James Blackham, By Miles
James Blackham, CEO of By Miles, talks to Jen Frost about why the regulator had to step in over dual pricing and why usage-based insurance is the future
Intelligence: Ireland is cautiously optimistic about its financial future
As Ireland emerges from the Covid-19 pandemic into a post-Brexit world, David Worsfold explains that after addressing past regulatory failures, and now looking to make personal injury reforms, the Irish insurance market is currently looking forward and…
Insurance sector faces 'serious consequences' as Northern Ireland sets its discount rate at minus 1.5%
Industry experts have warned the insurance market could face "serious consequences" after the Northern Irish Government Actuary changed the personal injury discount rate to minus 1.5% from minus 1.75%.
Industry 'cautiously optimistic' discount rate will be set before NI Assembly dissolves
The Northern Ireland government actuary department will have had less than two months to complete the review of the discount rate before the Assembly dissolves on 25 March, but industry watchers remain “cautiously optimistic” this is achievable.
NI to change discount rate in New Year
Northern Ireland’s Justice Minister Naomi Long has welcomed the passing of a Bill that will change how the country’s personal injury discount rate is set.
Blog: ‘The personal injury discount rate in Northern Ireland is in a mess’ - Discuss
The debate about the personal injury discount rate in Northern Ireland is a combination of big political forces, small political points-scoring and, perhaps, some missed opportunities, argue BLM director Alistair Kinley and partner Patrick Connolly,…