Individuals facing life-altering injuries rely on compensation to navigate the profound changes in their lives.
The Personal Injury Discount Rate (PIDR) plays a crucial role in upholding the well-established common law principle that individuals wrongfully injured should receive complete damages, covering their present and future needs, such as care expenses and potential lost earnings.
The fundamental concept behind personal injury claims is to restore the claimant, to the extent possible, to the position they would have occupied if the accident had not occurred – ensuring neither more nor less compensation.
The government is dedicated to the concept of full compensation, striving to ensure that seriously injured individuals receive damages adequate for their current and future requirements. To achieve this, reforms were instituted through Part 2 of the Civil Liability Act (CLA) 2018, aiming to establish a more equitable and precise method for determining the PIDR, considering various factors.
The upcoming review of the PIDR, following the reformed process outlined in the CLA, is scheduled for 2024. Notably, this will be the inaugural PIDR review where an independent Expert Panel, mandated by provisions in the CLA, will offer advice to the Lord Chancellor before any new rate is finalized.
This Call for Evidence is issued to solicit expert insights from stakeholders to support the Expert Panel's work. The contribution of high-quality evidence is imperative to this process, and individuals with a vested interest in this domain possessing relevant evidence and data are encouraged to participate in responding to this significant Call for Evidence.
https://www.gov.uk/government/calls-for-evidence/setting-the-personal-injury-discount-rate
https://witnessdirectory.com/signup.php
