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APIL and the Law Society have my sympathy on this one - the Daily Mail won't go with it and the issue is a complex one to get over to news reporters and commentators. The insurance industry also has a formidable propaganda arm.
That said, it is interesting to see Admiral also suggesting that the discount rate will hit profits as cases settle over the next 2 to 4 years. As I am sure they are aware, the effect of the discount rate change is on cases as from that date, which was March this year - they ought to be making provision now and that ought to be reflected in profits and forecasts. The fact that if it is it is of no or minimal affect suggests the insurers line on this is not an accurate reflection of their own perception or the facts.
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