Damages from Insurers for Late Payment of Claims - A Guide to the New Remedy
On the 4th May 2017 new provisions came into force enabling policyholders to recover damages where they have suffered loss as a result of insurers unreasonably delaying paying insurance claims.
During this webinar, Alison Green, a barrister at 2 Temple Gardens, will consider the scope and likely impact of this new remedy.
What You Will Learn
This webinar will cover the following:
- Introduction - background to the reform and the case of Sprung v Royal Insurance
- The Enterprise Act's amendments to the Insurance Act
- Implied term for insurers to pay sums due in a reasonable time
- What is a reasonable time to pay sums due in respect of a claim?
- When may insurers contract out of the new remedy?
- Limitation issues
- The likely impact of this new remedy on policyholders, insurers, lawyers and claims handlers