Ogden Table Changes

The 2017 change in the discount rate (Ogden Table) will cost the UK Insurance Industry a one off adjustment of £7 billion and £2 billion per annum thereafter.

This amount will have to be recouped by way of massive hikes in insurance premiums, especially after the recently renewed reinsurance treaties on the 1st January.

Motor, Employers' Liability, Public Liability and all other covers with a personal injury exposure are likely to see double digit increases and high risk personal injury policies such as construction, haulage fleets and motor trade will see increases well beyond the average.

It is essential that brokers and underwriters can fully explain these increases to their clients and this presentation will equip you to do just that. Remember, even claims free risks will see premium hikes.

The presentation will be run by Alan Chandler, Chartered Insurer, who is one of the leading insurance trainers in the UK.

He will explain the difference between special and general damages in liability claims and focus on how the change in the discount rate will completely transform the UK General Insurance market.

He will also explain which elements of liability claims will get changed by the Ogden Tables (known as the discount rate) and which classes of business will not be affected.

There will be practical examples to help you explain these changes to clients.

Finally, the presentation will explore the likely future of the rate following the MOJ's recent comments.

Who should attend?

This is a must for all brokers, underwriters and claims staff as these changes will bring about the first truly hard market in more than a decade.

Learning Objectives
At the end of the session, delegates will be able to identify:

•the difference between special and general damages in liability claims
•how the Ogden Table rates affect liability claims
•how the change in discount rate will affect premiums in the market place
•the capital implications for insurers following the Ogden Table change.

08:30 - 09:00 Tea/coffee/Danish pastries

09:00 - 11:00 Lecture/Q&A

This event is being subsidised by your local institute, the cost of attending will be:

CII members - FREE

Non-CII members - £15.00

Non-CII members may pay on the day by cash or by cheque payable to 'Lincoln Insurance Institute'.

If you have any dietary or specific requirements in relation to attendance at this event - please let us know at time of booking.

To register your attendance, please contact:

Phil Davis ACII
Chartered Insurance Broker
Hon Secretary
Lincoln Insurance Institute

T: 01522 814481
M: 07974 925739
E: phildavis@cookeandmason.com