Civil Liability Bill – Discount Rate Reform

New Ogden rate proposals have finally been published. We explore whether insurers are likely to get a discount rate on the Civil Liability Bill?

As the dust settles on the introduction of the Civil Liability Bill and the changes to calculations for the discount rate, we consider some of the more interesting proposals and their implications for insurers.

The Bill follows publication of draft legislation and subsequent pre-legislative scrutiny by the Justice Committee and sets out the Government's proposal for how, when and by whom the rate will be calculated. The changes improve transparency and accountability for the process of setting the rate.

How should the rate be set?