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Ogden Rate – Update

Tim Pearson, Head of Claims for BHIB comments on Today’s (7th September) Ministry of Justice (MOJ) update relating to the Ogden Rate: –

“The return of the rate to somewhere between 0-1% was in line with what was expected. The general consensus on timing is that any legislation would be passed prior to Brexit but probably not until October 2018 at the earliest.

It will be interesting to see what sort of timescales are given, however at this time, I do not expect insurers’ position on reserving and rates will change until legislation is passed.”

BHIB will of course comment further as the issue develops.

Tim Pearson Head of Claims

Tim ensures our Claims operation is running smoothly and provides the necessary support and assistance whenever our clients need it.

He is a specialist in handling complex Motor, Property and Liability claims, and provides clients with fleet management and large loss support.