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The reason the insurance industry have such an issue is due to the size of the cut.

They knew a cut was inevitable and in the current financial climate required.

Had discount rate ended up somewhere between 0 - 1% there would have been complaints but it would have largely been taken on the chin.

-0.75% is, however, ridiculous. Claimants will be overcompensated. Yes, claimants for years have been undercompensated, and that is not right, but this will not help them. Two wrongs and all that.....

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