Monitoring personal injury compensation

Document description

Various lines of approach to assess trends in settlement awards are considered. These include available studies of what the courts are awarding, statistical information from insurance companies and insurance industry bodies especially the ABI and LIRMA, the impact of Ogden tables in the context of new legal developments likely to make Ogden tables more generally applied, the impact of the report by Lord Woolf, Master of the Rolls, titled Access to Justice and designed to make legal procedures in personal injury cases simpler, less expensive and shorter, information from hospitals and health authorities on trends of accidents and emergencies treated, assessment of inflation that applies to the amounts of settlements, questions of tax and the relative usefulness of commuting annuity settlements and lump sums, and the interface with social security. The aim of this workshop is bring together some assessment of all these influences to gain a perspective of the overall trend. The culture within which insurance claims are being made is changing and the more distinctively actuarial questions such as those of mortality and interest rates are being resolved against this background.