The Regulations are likely to be approved by both Houses, meaning that the below Tariff will apply to injuries sustained on after 31 May 2025.
As the trigger for the new tariff is the accident date, it will take some months for the new figures to filter in to awards. Insurers will need to consider reviewing reserves.
While the new figures increase the risk of claims moving into the fast-track, the latest OICP figures show that less than 4% of injuries have a duration above 12 months (£2,335), meaning that the number of cases likely to become cost bearing will remain small.
Get in touch
If you would like to discuss the review, or any aspect of the injury market, please feel free to contact Alan Hayes or Paul Challoner at Carpenters.
