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Could leveraging building sums insured help combat Ogden?

The Government’s decision at the end of February to radically alter the formula for calculating lump sum personal injury payments looks set to have a significant impact on the insurance industry. The ‘Ogden rate’ has been hitting all of the trade press headlines for the past few weeks, with news of increasing premiums, reinsurance adjustments and forecasts of damaged Combined Operating Ratios and insurer profitability. But hold on, what’s Ogden got to do with property and more specifically rebuild costs? To answer this question we’d like to share some recent data insight with you, which if nothing else may give underwriters and brokers some food for thought. The big data Over the past few mo

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