Personal Injury: Compensation

Ministry of Justice written question – answered at on 5 March 2018.

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Photo of Stephen Crabb Stephen Crabb Conservative, Preseli Pembrokeshire

To ask the Secretary of State for Justice, what assessment he has made of the effect of changes to the personal injury discount rate on average motor insurance premiums.

Photo of Rory Stewart Rory Stewart The Minister of State, Ministry of Justice

The Government has not made an estimate of the overall impact on the insurance industry of the change to the discount rate in March 2017. However, in September 2017, PwC stated insurers had passed on roughly half of the expected costs resulting from the change in the rate with premiums for policies rising by about £75 on average and about £250 for young drivers.

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