Policy & Resources Committee - P.2019/16
The States are asked to decide:-
Whether, after consideration of the policy letter entitled 'Insurance - Statutory Discount Rate and Other Matters' dated 8 February 2019 they are of the opinion:-
1. To approve the proposals set out in that Policy Letter for the preparation of the necessary Guernsey legislation to:
a. enable the introduction of a statutory discount rate with the setting of the rate to be
by regulations of the Policy & Resources Committee;
b. create a power for the court to order the payment of damages for a personal injury
claim by means of periodical payments;
c. create a power, by Ordinance, to introduce a scheme to recover costs which would
otherwise fall to the States arising from a personal injury claim; and
d. create a power, by Ordinance, to introduce limitations to personal injury damages awards.
2. To direct the preparation of such legislation as may be necessary to give effect to the above proposition.
The above Propositions have been submitted to Her Majesty's Procureur for advice on any legal or constitutional implications in accordance with Rule 4(1) of the Rules of Procedure of the States of Deliberation and their Committees.