The Department of Justice and Equality is inviting submissions on the issue of the personal injury discount rate, also known as the real rate of return, and how it should be set.
This rate is used by the courts in cases involving catastrophic personal injuries to determine the size of an award necessary to compensate a person for damages for future loss.
In engaging in a public consultation on the issue, the department’s intention is not to change the fundamental principle that a claimant should be fully compensated but to ask a series of questions about what if anything needs to be done in order to update the current system of setting the discount rate.
Submissions in writing should be sent to discountrateconsultation@justice.ie by 5 August 2020.
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