Great article from Zurich Insurance showing the impact of the Ogden Rate Change to the final settlement of claims. This will have an impact on all buyers of Insurance from Car/Household/Pet Insurance to Business Insurance with an expected increase in premiums up to 30%.
We are currently reviewing our Clients Indemnity Limits for both Employers Liability and Public Liability and talking to them about the Ogden Rate and it’s immediate impact on claims settlements and potential premium increases (and how they can combat this).
This is a big change in the Insurance industry and if your Broker is not discussing this with you, they need to.
If you want to know more then please contact us: