Scottish Discount Rate Decision 'Bad Outcome' For Buyers
Law360, London (October 1, 2019, 1:59 PM BST) -- Insurers have warned that Scotland’s decision to leave unchanged the controversial discount rate used to calculate personal injury compensation is a “bad outcome” for Scottish policyholders, who face paying higher car insurance premiums compared with England and Wales.
The Government Actuary, which helps the U.K. government assess risk, announced Monday that it will keep the rate in Scotland at -0.75%, which was set by the Ministry of Justice in 2017. But the government said in July that it would raise the rate to -0.25%, up from -0.75%, in England and Wales. A greater negative rate swings the balance toward claimants.
The Association of British...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!