Webinar - The changing Ogden rate that will reduce liability premiums
* Highly Recommended Webinar *
Highly topical – how liability rates will significantly fall in 2025 due to the recent Ogden rate reduction.
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
The learning objectives from this CPD session are as follows:
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Understand the history of the Ogden rate and how we at one point ended up with three different rates in the UK.
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Understand how the Ogden rate changes cause significant premium swings.
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Understand why the recent Ogden rate change will bring about a reduction in liability rates in 2025.
Trainer Biography:
Alan Chandler is widely regarded as one of the most popular and respected insurance presenters in the world. He has taken thousands of people through to Acii qualification including many national prize winners, as well as delivering a vast array of technical presentations on Commercial and Personal lines insurances. Alan has raised the pass rates in Cii exams where he is involved from under 40% to 99% demonstrating why he is so well regarded.
Alan's webinars have been viewed across Europe, Asia, Africa, Australia, North America and South America and his audience numbers last year were well over 100,000. He has devised and delivered training programmes for the CII as well as most of the major insurers and brokers including Allianz, Zurich, Lloyd's, Hiscox, Aviva, Admiral, Gallagher, Aon, Towergate, GRP, Aston Lark, James Hallam Marsh, and the Worshipful Company of Insurers, however, Alan is equally happy to be devising and delivering programmes for small independent brokers and MGA's. He has a real passion for equipping staff to pass ACII exams and learn new technical concepts and it is his plain English way of presenting that has made him so popular.
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Alan Chandler Profile
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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.