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Discount rate reduction from 2.5% to -0.75% for personal injury claims: Statement from the Association of Personal Injury Lawyers (APIL)

27 Feb 2017
APIL news

Discount rate reduction from 2.5% to -0.75% for personal injury claims Statement from the Association of Personal Injury Lawyers (APIL)

People who suffer severe life-changing injuries can now be assured that the compensation needed to look after them is calculated correctly and is sufficient to provide care for the rest of their lives. It is what they need and deserve and APIL welcomes this recognition from the Lord Chancellor.

But we must also note that this change is long overdue. People already coping with the most severe injuries have been deprived of the help and care they need for years. Meanwhile insurance companies, which have saved millions of pounds in unpaid compensation, have been aware that a decision to change the discount rate has been on the cards for six years, since APIL first began judicial review proceedings on the issue. They have had plenty of time to prepare for this change and the fact that many are now saying premiums will have to rise to cover the cost simply beggars belief.

We hope this decision marks a long overdue turning point towards treating injured people fairly and with understanding. It is not only the right thing to do, it takes the cost of caring for people away from the taxpayer and puts it squarely where it should be – with the person who caused the needless injury.

Past statements and comments

Fixed costs for personal injury claims against the NHS: APIL response, 15 Feb 2018
MoJ decides on April 2019 to implement whiplash reforms, 12 Feb 2018
APIL's response to the Justice Select Committee report , 30 Nov 2017
APIL's reaction to a court of appeal ruling in relation to eligibility for bereavement damages, 28 Nov 2017
Rapid resolution and redress scheme , 28 Nov 2017
Reaction to Government's response to consultation on setting the discount rate, 07 Sep 2017
Response to National Audit Office report and recommendations for managing the costs of clinical negligence in trusts, 06 Sep 2017
Pressure on the pricing of car insurance premiums and the imminent review of the discount rate, 03 Feb 2017

More past statements

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