Welcome to our most current Casualty podcast, where by Alistair Kinley, Director of Policy & Govt Affairs, Andrew Hibbert and Chris Murray, the two Catastrophic Damage & Huge Decline Associates, explore the MoJ’s imminent ‘call for evidence’, responses to which will advise the 2024 evaluate of the Own Injuries Lower price Price.
The own damage discounted fee (PIDR) is a key element in valuing catastrophic and substantial reduction injury claims. In 2019, a one statutory PIDR was established in England & Wales and a formal evaluate have to begin by mid-2024 (individual opinions in Scotland and Northern Ireland will follow incredibly very similar time frames).
In the meantime, and in preparation for that evaluation, the Ministry of Justice (MoJ) is refining a ‘call for evidence’ in purchase to collect further views about the risk of adopting twin or several fees. The window for responding to the MoJ will open in the New Calendar year and is most likely to run for 10-12 weeks.
In this podcast, we:
- Summarise our being familiar with of the explanations for, and timing of, the imminent connect with for proof
- Define the principal selections for dual or various rate products
- Take a look at the professionals and downsides of the distinctive versions
- Contemplate the potentially important functional implications for handling statements, and
- Focus on how the submissions to the contact for evidence could feed into the 2024 overview of the PIDR