Practical implications of the PIDR review
21 mars 2023
09.30 - 11.00
Assurance et réassurance
Overview & Audience
Our Casualty team continues to monitor activity relating to the Personal Injury Discount Rate (PIDR) in England & Wales. The Ministry of Justice (MoJ) is currently running a 'call for evidence' to obtain in-principle views and insights into the potential practical impacts of possible options for dual or multiple PIDRs.
With the MoJ seeking responses by 11 April, we invite you to join a series of webinars where our experts address issues arising in dual and multiple rate models and consider how they might play out in practice, particularly in relation to claims handling.
Our second webinar will feature guest speakers from PWC and will focus more on the technical side of approaches, how the calculations might be constructed, what the results of them might look like in practice, and how the options compare to using the current single PIDR.
Joined by PWC, this 90 minute webinar will:
- Outline the lump sum calculation particular to each approach
- Examine how multipliers (and hence awards) differ across the options
- Present case studies to introduce a discussion of the practical implications
We are holding a series of webinars in March, the first webinar on Wednesday 15 March will explore experiences from other jurisdictions using dual or multiple discount rates. We will cover the impact and issues we may face here if similar models were adopted following the 2024 review.