The Ogden Discount Rate and Personal Injury Settlements

The Ogden Discount Rate, which is used by the courts to calculate personal injury settlements  has changed. This affects personal injury awards made to claimant and ultimately the premiums of all classes of motor and liability insurance, which involve compensation payments for personal injury.

When assessing lump sum awards for personal injury claimants the courts take into account the net rate of return (discount rate) that the claimant might expect  from a reasonably prudent investment of lump sum compensation.

Since 2001 the rate has been 2.5%. This has been amended by 3.25% to -0.75%. The rate change applies retrospectively to all current claims.

This removal of the discount rate is going to make a significant difference as certain awards (such as for nursing care) are paid annually.

Due to this change we expect insurers to have to pay out higher injury awards, which may filter through to premiums. However as an independent broker we use a wide panel of insurers and will continue to search the market for the best deal for you.

BIBA (British Insurance Brokers Association) Purple Partnership

Copyright © 2017 Birnbeck Finance Limited t/a Birnbeck Insurance Services
Registered Address: Whetcombe Whey, Ropers Lane, Wrington, Somerset, BS40 5NH
Company No. 01158939
Registered in England and Wales

Our industry’s ombudsman is the Financial Ombudsman Service
We are authorised and regulated by the Financial Conduct Authority
FCA Registration Number: 125599
Foreign Account Tax Compliance Act Certificate

Insurance Premium Tax

Please note that insurance premium tax has increased from 10 to 12% with effect from 1st June 2017. This tax is levied by the government on all insurance policies.

We hope that there will not be any further increases but fear that the government will push this tax up to the same level as V.A.T at 20% in the near future.

Christmas Opening Hours

Please note that we have some amended opening hours for the Christmas period, which will be as follows:

23rd December: 9am to 1pm

28th December: 9am to 1pm

29th December: 9am to 1pm

30th December: 9am to 1pm

May I take this opportunity of wishing all our customers and commercial partners a very merry Christmas and a happy, healthy and prosperous New Year.

Stuart Rose

Tracey Steele joins Birnbeck Insurance Services

We are delighted to announce that Tracey Steele has joined Birnbeck. Tracey has been working in insurance for over 25 years in a variety of broking roles and joins us as an account handler. She brings a wealth of experience in motor, home and travel insurance and also be assisting clients with forest school and landlords Insurance. Tracey can be contacted on 01934 522252 or

Kit and Equipment Insurance

We have revamped our kit and equipment insurance offering for Forest School and Outdoor Learning Practitioners. We can now include cover for a wider range of items including camping equipment! Insurance for tools and equipment stored in vehicles overnight can also be included subject to agreement. Please contact Tracey Weaver for further information on 01934 522252 or

Lorna Lyndon joins Birnbeck

Following Roger Hargest ‘s retirement in October, we are delighted to announce that Lorna Lyndon has joined Birnbeck . Lorna has been working in commercial insurance for 25 years in a variety of underwriting and broking roles and joins us as a commercial consultant. Lorna can be contacted on 01934 522252 or

Personal Accident Insurance for Forest School Practitioners

Personal Accident cover is available for Forest School Practitioners to protect your loss of income following an accident. Cover is available on a 24 hour basis or it can be restricted to working time only.  It is typically inexpensive and gives you peace of mind to pay your bills.

Please contact Tracey Weaver for more information on 01934 522252.

To Forest School Practitioners who change their business structure

A new regulation for Landlords

The Smoke and Carbon Monoxide Alarm Regulations are due to come into effect in October 2015. They require that a smoke alarm is equipped in every storey of their property and that a carbon monoxide alarm is provided in any room which contains a solid fuel burning combustion appliance.

For more information about Landlord Insurance please contact us on 01934 522252

Tracey Weaver joins Birnbeck

Following Eddie Prest ‘s retirement in May, we were delighted to recruit Tracey Weaver in June. Tracey will be managing our Forest School Insurance scheme and also brings with her over 10 years of general insurance broking experience. Tracey can be contacted on 01934 522252 or