periodic payment order

periodic payment order

1 an order in divorce proceedings for regular payments of money. If the court is satisfied that the application of the ‘clean break’ principle is inappropriate, it may instead make an order for the payment of a periodical allowance. For Scotland see PERIODICAL ALLOWANCE.
2 from April 2005, in England and Wales, courts will be able to impose a periodic payment order at the settlement of a substantial claim for compensation. The case will be financially valued to ascertain the overall lifetime financial need. The final award will be paid by way of a lump sum with the addition of an annuity.
References in periodicals archive ?
The analysis, which examined more than 550 Periodic Payment Orders (PPOs) and over 8,000 large claims, reveals that the number of PPOs granted by UK courts in 2015 was similar to that of 2014, but substantially lower than the 2011 peak.
Willis Re said larger, more serious bodily injury claims are increasingly being settled by periodic payment orders (PPOs), which are paid at regular intervals over the lifetime of someone who has been injured, rather than a one-off sum.
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, has launched a new tool to help insurers quantify their exposure to Periodic Payment Orders (PPOs) which settle motor injury claims in the UK.