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19 April 2018

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New law raises prospect of claims disputes

Laura Board 14 February 2017

Insurers have less than three months to fine-tune their claims handling procedures before legislation which could land them with new liabilities takes effect.

On 4 May, the UK Enterprise Act will make insurers liable for additional losses if claims aren't settled within a "reasonable" period of time. The law does not specify what reasonable means.

The measure was pulled from the Insurance Act after extensive insurance industry lobbying, and the government's decision to reinstate it in the far broader Enterprise...

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This article was published as part of issue February 2017/2

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