Simon McGinn Reacts to Discount Rate Announcement

Allianz's Simon McGinn reacts to today's announcement regarding the Discount Rate:

“We believe providing seriously injured people with a fair level of compensation is the right thing to do but the insurance industry is currently overcompensating. While today’s announcement has signified a move in the right direction, unfortunately the new rate of -0.25% does not go far enough. An opportunity has been missed to further tackle the increased cost of settling personal injury claims, which ultimately contributes to rising customer premiums.”

Simon McGinn, General Manager, Commercial & Personal, Allianz Insurance