Association of Personal Injury Lawyers
A not-for-profit organisation representing injured people

Blog: The insurance industry’s response to the discount rate change is shameless

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The insurance industry’s response to the discount rate change is shameless
Gordon Dalyell | 23 Jul 2019

The insurance industry is set to make savings of around £300 million from changes to the way personal injury compensation is calculated, according to Government figures. The notion that this is somehow not enough, and that consumers will now be stung for higher premiums is both breathtaking and deeply cynical.

The calculation is designed to ensure that people who have suffered catastrophic injuries have the funding they need for their care, for the rest of their lives. These are people who have been injured needlessly because of the negligence of people who have paid for insurance cover for the very purpose of providing adequate compensation to those whose lives they have shattered.

This could be a child who was injured at birth, someone who has suffered life-changing, crippling injuries at work, or a driver who has been paralysed in a car crash.

Injured people should not have to take risks in the way they invest the money which is to last for their rest of their lives. The idea that consumers should pay the price because the insurance industry has not made a big enough saving from this change is, frankly, shameless.

Past blog entries

Accident and negligence: what’s the difference and why does it matter? , 02 Aug 2021
Patient safety problems risk waning public confidence in the NHS , 20 May 2021
Consumers will not benefit from Do-it-Yourself whiplash reforms, 28 Jan 2021
Effects of a change in the discount rate: what happens when a review is expected? , 16 Dec 2020
Three per cent drop in premiums does not reflect massive insurer savings, 09 Nov 2020
What help is out there for families when someone is injured?, 02 Nov 2020
Blindly heading into the unknown for injured people?, 09 Dec 2019
Lessons in looking after one another , 18 Nov 2019

About this blog

Gordon Dalyell

Gordon Dalyell has represented Scotland on APIL’s national executive committee for several years and is now the association's president. He has been a partner with Digby Brown LLP in Edinburgh since 1998. He has wide experience in dealing with many areas of personal injury, including accidents at work, road traffic accidents, fatal claims, and public liability claims, as well as claims for miscarriages of justice.