6/1/2015
START DATE
END DATE
6/22/2015
Argus Insurance Company Ltd v. Somers Isles Insurance Company Ltd and Harold Talbot
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Supreme Court of Bermuda
Insurance Law Personal Injury
Jai Pachai Paul Harshaw
Craig Rothwell Lauren Sadler-Best
FACTS OF THE CASE:
The case examines the methodology for calculating discount rates for future loss in personal injury claims considering the shift from a fixed percentage approach to one influenced by current economic realities and investment returns. It involves a detailed analysis of expert testimony on economic conditions investment strategies and the applicability of the Ogden Tables.
SUMMARY:
The court considered whether to adopt a new approach to calculating discount rates for future loss claims evaluating the merits of investing awarded lump sums in Index-Linked Government Securities (ILGS) versus a mixed basket of investments.
OUTCOMES:
Ruling supports a nuanced approach to calculating future loss favoring the claimants' perspective but acknowledging the need for expert evidence in determining the most appropriate discount rate.
RULED IN FAVOUR OF:
Claimants (for adopting a new approach to calculating the discount rate)
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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Argus Insurance Company Ltd v. Somers Isles Insurance Company Ltd and Harold Talbot
The case examines the methodology for calculating discount rates for future loss in personal injury claims considering the shift from a fixed percentage approach to one influenced by current economic realities and investment returns. It involves a detailed analysis of expert testimony on economic conditions investment strategies and the applicability of the Ogden Tables.