Sunday August 9, 2020

Review of judges’ power to set personal injury ‘discount rates’

The Department of Justice is to reassess whether judges or minister should set the award rates

Ian Guider

Markets Editor

@ianguider
14th June, 2020
The Department of Justice is reviewing whether the courts or the minister should set the discount rate and whether the investment strategy underpinning the rate should be changed

The government is to review whether judges should continue to assess how large personal injury awards are calculated, in a bid to ensure there is no overcompensation of claimants.

The courts currently have the power to set the so-called discount rate when assessing special damages in personal injury cases – a way of calculating potential future returns on investments when deciding large lump sum payments. The lower the discount rate, the higher the compensation payments...

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