The new Book of Quantum represents a ‘quantum leap’ from its predecessor. However, Stuart Gilhooly argues that appeasing the insurance industry is a mission impossible in the November Gazette.
Not since ‘Harry Potter and the Deathly Hallows’ has a sequel been so hotly anticipated. Though unlikely to be made into a movie, Gilhooly writes that the new Book of Quantum is certainly an impressive follow-up.
A quantum leap
Beautifully compiled by Verisk Analytics (global experts in this area), the colour-coding, easily identifiable sections, and clearer explanations of each injury distinguish the new book from its predecessor.
Most people – whether claimants, respondents, or merely interested onlookers – want to know about the numbers. Are they up or down? The answer is both. The new book does increase values to a small extent for neck injuries, but also reduces award values for others. For example, the award for a ‘minor – substantially recovered’ soft-tissue back injury has fallen from ‘up to €16,300’ to ‘up to €14,800’.
Mission impossible
Stuart Gilhooly (President of the Law Society and a partner at HJ Ward & Co, Solicitors) delves into the new Book of Quantum in detail for the November Gazette. He points out, however, that satisfying the insurance sector has once again proven to be a ‘Mission Impossible’.
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