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Business Insurance: Motion [Private Members] (21 Mar 2018)

Jim Daly: ...level of awards granted by the courts will be aligned with those provided by PIAB. This in turn should mean a reduction in legal costs. Secondly, a stable claims and awards environment should mean that the reserves put aside by insurers to meet future claims would not have to be regularly adjusted to reflect new developments such as increases in award levels. A common criticism...

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