Changes to personal injury discount rate
22 March 2022
The Department of Justice (Northern Ireland) has announced that following the first review by the Government Actuary of the personal injury discount rate in NI, in accordance with the Damages (Return on Investment) Act (NI) 2022, a new rate of -1.5% has been set, effective from today (22nd March 2022).
This new rate, a change from the previous rate of -1.75%, may have the impact of reducing the total quantum calculated in personal injury and fatal accident claims.
If you have any queries as to how this change may impact claims for loss, please contact Michael Jennings or Catherine Maguire from our Forensic Accounting team.