COMMITTEE CALLS FOR FURTHER EVIDENCE ON OGDEN REFORMS

A Justice Select Committee report on the UK bodily injury discount rate says that more evidence is required before legislation is changed. The government is currently looking to change the way in which its sets the discount rate for lump sum bodily injury compensation to better reflect the way in which such pay-outs are invested. In its report on Thursday, the Justice Select Committee said that “clear and unambiguous evidence” should be gathered about the way claimants invest their lump sum damages before legislation is changed. It also recommended that the government report on the impact of changes in the discount rate on motor insurance premiums each time it reviews the discount rate in future.