The New Discount Rate: what you need to know

In this IIL accident lecture James Arrowsmith discussed the shock announcement of a minus 0.75% discount rate, the impact it is having on claims and insurers, and the response the rate has received. He considered the merits of the Lord Chancellors' approach to setting the rate, and the future developments which may mean the new rate is short-lived.

On 27 February 2017 the new discount rate for injury claims was announced. The announcement was overdue but the decision to fix the rate an minus 0.75% likely came as a surprise to many. We know the change will increase claims spend, hit insurers' bottom line, and impact premiums. This seminar is intended to assist brokers, underwriters and claims professionals in considering the impact the change will have on their portfolio, and in dealing with customers who wish to know what the change will mean for them. We will look at the emerging response to the new rate and consider possible future developments in relation to setting the rate and the level at which the rate is fixed.

By the end of this lecture members would have gained an insight into:

• What has changed
• Impacts on injury claims
• Which claims will be affected
• Impacts of the change
• Claims behaviours which may emerge
• The future of the discount rate

Speakers Bio:
James Arrowsmith is a Partner in Browne Jacobson's Commercial Insurance department and specialises in personal injury and liability insurance. James and his team deal with injury claims of the utmost severity and have extensive experience in advising on claims in which the discount rate is applied, as well as those involving PPOs.

Chair:
Neville White, Senior Corporate Liability Underwriter, UK Property & Liability, Tokio Marine Kiln.

CPD events are open to CII and PFS members
Registration closes at 12pm two working days before the event date
For events held in The Old Library, Lloyd's pass holders may also attend and do not need to register
Original Photo ID (Driving Licence, Passport, Work ID with company logo and full name) is required to gain entry to all venues

Conditions:

• Email confirmations and original photo ID must be produced to security staff at the lecture venue
• Attendance confirmations are non-transferable to any other person or lecture
• All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission

Please let us know what we can do to make our events fully accessible to you.

Contact:
Please contact Patricia Pedraza (07463 028327) with any queries regarding the CPD events programme.