British Insurance Brokers’ Association Issues Statement on Damages Discount Rate Consultation
"BIBA's response to the MOJ expressed our members belief that it is unlikely that many individuals would seek, or be advised to seek to invest all of their lump sum payments in index-linked gilts.
"It is very unlikely that a prudent investor with appropriate advice would receive a negative return.
"The
"This proposal reflects our call for the process to reflect the way compensation monies are actually invested.
"In addition the proposals include the provision for an independent expert panel to advise in the process, something that BIBA also requested in our submission.
"BIBA now calls for a speedy timeframe for implementation of these proposals to end the uncertainty for customers brought about by the significant under insurance risk and increase to premiums that February's discount rate change caused.
"The insurance industry was united in its approach to Government, and in its desire to achieve a fair balance of compensation for injured parties as well as reversing the unintended consequences of the change."
RSA Issues Statement on Ministry of Justice’s Announcement
Gov. Hickenlooper Testifies Before Senate HELP Committee Hearing
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News