In this episode of Sitting With Sue Insurance Questions Answered, host Sue Taylor interviews Thom Lumley, a partner at RPC specializing in UK casualty bodily injury claims. They discuss the personal injury discount rate, a metric used to calculate compensation for major injury claims. The rate, set by the Lord Chancellor and influenced by actuarial tables like the Ogden tables, aims to balance the risk of over or under compensation of claimants. Thom highlights the recent change in the discount rate to 0.5% as of January 11th and its implications for compensators, including potential adjustments in premiums and increased use of periodical payment orders (PPOs). They also touch on the broader impact of world events on the UK insurance industry.

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Ellie Smith from Channel Island Adjusters Limited shares her journey of transitioning from cabin crew to a successful loss adjuster, passing the CII and CILA certificate exams with the support of her mentor, Josh. Ellie discusses the importance of mentorship, describes how to play case law snap, the practical application of theory, and the need for practice exam papers. She emphasizes the crucial role of a supportive team and structured yet adaptable study plans in achieving exam success.

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Building Your Career with Confidence
Ever wondered how professional qualifications can transform your career?
Tune into my latest podcast episode where I chat with Chris Boggis and Ashley Martin from Woodgate & Clark. We discuss the significance of exams, the doors they open and practical tips for balancing study with a busy work life. Learn how investing in yourself can pave the way for new opportunities and industry respect.

Visit my website at www.suetaylor.co.uk