Damages for Late Payment of Insurance Claims - Enterprise Act 2016

May 03, 2017
At present there is no right to damages if an insurer in the UK takes an unreasonable period to settle a claim. Late payment of claims can create genuine hardship for an insured. This could all be set to change from 4 May 2017.

In a significant change to English law, from 4 May 2017, an insured will have a right to claim damages in the event that an insurer fails to pay sums due in respect of a claim under an insurance policy within a reasonable time.

Read 'Damages for Late Payment of Insurance Claims - Enterprise Act 2016'