After the turbulence of 2017, legislative developments in the
motor arena moved up a gear in 2018, providing motor insurers and
legal representatives with much more certainty for the future in
respect of large loss claims, and the volume motor sphere.
The passage of the
Civil Liability Act implements a
new methodology for calculating the discount rate in England
and Wales, with application beyond motor claims. The first review
of the discount rate has to be started within 90 days following
Royal Assent. The Government has already published a Call for
Evidence, and should the Lord Chancellor utilise the full periods
available for review, we expect a determination in July or August
of this year.
