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Insurance News

Why are certain types of insurance getting harder and more expensive to arrange? Unfortunately, the answer is far from simple...

We've already written about a 'hardening' insurance market and how, until recently, this was primarily confined to the supply of professional indemnity insurance (PII).  However, conditions across the whole insurance sector are now becoming more challenging as insurers are forced to increase premiums, reduce their presence in specific markets or withdraw from them altogether because they are no longer financially viable. 

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The Ogden discount rate - how will the changes affect you?

With effect from 5th August 2019, the Ogden discount rate will marginally increase from -0.75% to -0.25% for personal injury awards. The government made the decision to increase the Ogden Rate after the current rate led to concerns that victims of life-changing injuries (claimants) were being significantly overcompensated. Here are the key points to note about the changes and how they will affect you:

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Cyber-extortion in 2018: are you prepared?

Is your anti-ransomware strategy in place? Are you adequately insured in the event of an attack? If the answer is NO to either question, then you need to review your cyber-security urgently.

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The Ogden discount rate has been reduced

Until recently hardly anyone knew of the Ogden discount rate but with effect from 20th March 2017, the Ogden discount rate was reduced from 2.5% to -0.75%

Here are the key points to note about the changes and how they will affect you:

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