Jon Dye, head of motor at
Allianz UK, calls the changes to the Ogden discount rate, announced in February, "an unexpected change that caused a major shock" in his recent blog post for Fleet News.
The change, which took effect from 20 March 2017, meant the rate, which is used to calculate the amount of compensation a personal injury claimant receives to reflect the return they will earn when that money is invested, was reduced from 2.5% to -0.75%.
Read our article about the rate change, posted soon after the announcement, for further explanation of what this implies.
Read more about the Ogden discount rate change