To ask the Secretary of State for Justice, what recent representations he has received on the effect of the personal injury discount rate on the affordability of motor insurance.
Answered on
1 March 2018
On 7 September 2017, the Ministry of Justice published and invited comments on draft legislation that would, if enacted, change the way in which the discount rate is set.
Following publication of the draft legislation, representations have been received from a range of stakeholder groups, including a number from insurance companies which included comments on the effects of the change to the discount rate in March 2017 on motor insurance premiums.
Answered by
Ministry of Justice