Factors Impacting Insurance Premiums – Ogden Personal Injury Discount Rate Changes
Ogden Personal Injury Discount Rate Changes A key determining factor in quantifying large personal injury claims is what is known as the Ogden Personal Injury Discount Rate. This rate changed on 20 March 2017 and, as a direct result, payments in respect of serious personal injury claims have soared. This level of increase is unprecedented…
Factors Impacting Insurance Premiums – Insurance Premium Tax Increases
Insurance Premium Tax (IPT) Increases IPT is a levy charged by the government on insurance premiums. The rate of IPT has increased significantly from 2010 i.e. In 2010 IPT was 5% In July 2015 IPT increased to 9.5% In March 2016 IPT increased to 10% In June 2017 …
The Ogden rate or Discount rate – What is It?
When assessing lump sum awards for personal injury claimants, courts take into account the net rate of return (discount) that the claimant might expect to receive from a reasonably prudent investment of lump sum compensation. Since 2001, this rate has been 2.5%. On the 7th December 2016, It was announced that a review of the…
IMPORTANT INFORMATION – The Insurance Act 2015
The Insurance Act 2015 applies to all commercial polices placed or varied after 12 August 2016. As a purchaser of insurance it remains a commercial policyholder’s responsibility to disclose every material circumstance that they know, or ought to know, about the risk. A material circumstance is something that would affect the judgement of an insurer in deciding…
Pali Users Professional Indemnity Insurance for DEAs and NDEAs
IT & Management Consultants – Professional Indemnity Insurance
Do IT and management consultants really need pi insurance cover? This is a question posed by many different businesses when reviewing their overall running costs. A professional indemnity insurance policy provides cover in respect of economic losses that may arise as a result of errors and/or omissions made during the normal course of a firms…
PI Insurance – Is It Really Needed?
Professional indemnity insurance is at times considered to be an unnecessary expense that many companies are forced into having as a result on contractual requirements or industry governing bodies dictating that pi cover is required. Like with any insurance policy the merits of a professional indemnity policy are often only really appreciated in the event…
Professional Indemnity Insurance – Common Misspellings
If you are looking for professional indemnity insurance for your business then we can help – whatever your occupation we can provide quotations from our panel of insurers including Novae Insurance Company, Royal & Sun Alliance Insurance, Beazley Insurance Company, Dual Corporate Risks, HCC Diversified Financial Products, Norwich Union Insurance, Towergate and others. Instant professional…
Professional Indemnity Insurance – Why Insurance2day?
Insurance2day Insurance Services Ltd is the one stop shop for your professional indemnity insurance needs. Not only do we offer comprehensive, competitive online pi quotations for which cover can be issued instantly but we can also quote be-spoke indemnity insurance packages from our panel of insurers. Whatever your business activities Insurance2day have the answer to…
Exclusive Professional Indemnity Insurance Schemes
Insurance2day have negotiated exclusive PI Insurance Schemes with both Royal & Sun Alliance Insurance plc and Novae Insurance Company Ltd. Whilst other insurance brokers may have access to the open market product ranges of these insurers the online indemnity schemes are only available via Insurance2day Insurance Services Ltd. At Insurance2day we pride ourselves on our…