NAVIGATING THE IMPACT OF THE DISCOUNT RATE CHANGE 2017

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YOUR BUSINESS MAY BE AT RISK IF YOU DO NOT CONSIDER YOUR
CURRENT LIMITS OF COVER UNDER YOUR LIABILITY INSURANCES

You may already be aware that the Lord Chancellor recently announced that the Discount Rate was reducing from +2.5% to -0.75% for personal injury awards.

This is one of the most significant changes to the insurance industry in recent times and it will have an immediate effect on the amount of compensation that is paid to seriously injured individuals.

We have created an easy-to-read guide, please take the time to read this, as it is important that you fully understand the implications of this change and how it could potentially affect your business.

We strongly advise that you should immediately review the cover limits under both your employers’ and public liability policies. Please speak to your usual contact at Miles Smith if you want to increase these, or if you require further advice. Alternatively you can call us on 020 7977 4800.

 

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