Insurers Welcome N. Ireland Review Of Personal Injury Rate

Law360, London (June 25, 2020, 5:17 PM BST) -- Insurers and lawyers have welcomed a move by the Northern Irish government to consult the sector before going ahead with plans to drastically change the discount rate applied to personal injury cases in the region.

Northern Ireland's minister of justice, Naomi Long, announced last week that the government would ask for public feedback on plans to reduce the personal injury discount rate — the formula by which insurers pay lump-sum compensation to individuals who need medical care for the rest of their lives as a result of major motor accidents.

"This consultation is about how we should set the personal injury...

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