Online Event - How liability rates will significantly fall in 2025 due to the recent Ogden rate reduction
The Insurance Institute of Cardiff invite you to a webinar on; How liability rates will significantly fall in 2025 due to the recent Ogden rate reduction
Event Details:
Thursday 30th January 2025 13:00 – 14:00
The webinar will be run via Zoom, a global web-conferencing solution. Zoom is easy to use, a link and joining instructions will be sent to you at the time of booking.
About the session:
The Ogden rate may sound an obscure thing, but it has massive implications both positively and negatively on liability settlements. All brokers, underwriters and claims staff should have a good understanding of the Ogden rate in order to explain rating changes to policyholders and understand why large liability claims will now be reducing.
The Ogden rate is used by courts to increase or decrease large personal injury liability claims. It was one of the main reasons why the market went so hard in recent years when the rate started loading liability settlements, and it will be one of the man reasons why we will now go into a softer market due to the fact it will start discounting liability settlements from 10 January 2025.
The Ogden rate will mean a happy new year for insurers. Will they be passing their savings onto their policyholders? well that will depend on how well brokers understand Ogden.
This presentation will be delivered by Alan Chandler, Chartered Insurer, one of the most popular presenters in the UK, and he will explain what the Ogden rate is and how it affects liability settlements.
Learning objectives:
Following this presentation the delegates will be able to:
- Understand the history of the Ogden rate and how we at one point ended up with three different rates in the UK.
- Understand how the Ogden rate changes cause significant premium swings.
- Understand why the recent Ogden rate change will bring about a reduction in liability rates in 2025
About the speaker:
The Course will be run by Alan Chandler.
Alan has been an operations and project manager in three large global companies. NatWest insurance services, Royal Bank of Scotland insurance group and Allianz. In the last ten years running his own training company he has taken more than 1.000 people to ACII including six people who have achieved the top ACII pass rate in the whole of the UK. He has trained national prize winners in almost all CII subjects, has been a CII examiner and has a pass rate of 96% in cii training. His website is www.alanchandler.co.uk
Further information:
A link will be sent via your email address supplied at the time of booking. PLEASE DO NOT share this with anyone else.
Please note that this webinar will be hosted on the Zoom platform which may be restricted by some employers. Members may need to utilise their own personal devices in these circumstances to access the platform.
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CII Accredited
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.