The Association of Personal Injury Lawyers (APIL) is acting as an Interested Party in a judicial review brought by the Association of British Insurers (ABI), who are seeking to challenge the decision of the Lord Chancellor to announce the outcome of her review of the discount rate by 31 January 2017.
Late last year, APIL secured an undertaking by the Lord Chancellor to announce the outcome of the review through legal action, after many years of campaigning for the rate to be lowered. The discount rate, used to calculate future losses in personal injury cases, has not changed since 2001, and is based on the income that investment of a claimant’s damages was anticipated to generate. Since 2001 however, income on the types of investment which the current discount rate was based on has fallen significantly, resulting in under compensation of those with future loss claims, APIL argues.
Philip Havers QC and Isabel McArdle of One Crown Office Row are instructed by Hodge Jones & Allen to act for APIL. A hearing to consider ABI’s application for interim relief is scheduled for 19 January 2017.
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