Discount Rate Will Bump Up Motor Premiums, Insurers Warn

Law360, London (July 29, 2019, 3:46 PM BST) -- Britain’s insurance lobby predicted on Monday that the newly revised rate used to calculate personal injury compensation will push up the cost of insurance premiums, as it said that motorists are already paying slightly more to buy cover in the second quarter of 2019.

The Association of British Insurers warned that changes announced earlier in July to the so-called Ogden rate are expected to push insurers to raise their charges for motor insurance premiums. The new rate is due to come in force in August.

"The recent decision on the discount rate is bad news for motorists that will simply add...

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