Personal Injury Discount Rate Review (England & Wales)

• FOIL

Following a high-level discussion of the analytical approach taken by the Government Actuary’s Department (GAD) in the 2019 review, an overview was provided of the key high level methodology considerations, highlighting that it is a balance of risk and cost between stakeholders. In the absence of sufficient evidence relating to the availability of Periodical Payment Orders (PPOs) and how these work in practice, it was noted that no meaningful retrospective analysis could be made of their impact and the review will proceed on the assumption that the damages are paid via lump sum.