Biba sends warning on Ogden rate decision delays
The warning comes after the Justice Committee said more evidence was needed before the government can make a decision on how the rate should be set.
The British Insurance Brokers’ Association (Biba) has warned that further delays to a decision on how the discount or Ogden rate is set would “exacerbate” the problems already caused by the shock reduction of the rate to -0.75% earlier this year.
Biba executive chairman Graeme Trudgill said in a statement: “While more evidence may be useful to provide confidence that claimants will not be under-compensated, we feel that the Government already has much evidence to demonstrate that in the real
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