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Latest News: Pavey Group joins Gallagher

Pavey Group Ltd has become part of Gallagher, one of the largest global insurance brokerage, risk management and consultancy firms as part of their UK operation.
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Posts Tagged: Ogden Rate

Personal Injury Discount Rate

Government Announces Change to Personal Injury Discount Rate

Posted by on March 16th 2017 in Insurance

When victims of life-changing injuries accept a lump sum compensation payment, the actual amount they receive is adjusted according to the interest they can expect to earn by investing it.

In addition, when finalising this amount, the Courts apply a Personal Injury Rate, also known as ‘Ogden’ or ‘Discount’ rate, designed to help calculate future losses for life (such as care costs) and future loss of earnings. The rate is applied using multipliers specific to each claimant taking into account their age and other factors such as their education, retirement age and life expectancy.

Last month the Lord Chancellor announced that commencing 20th...