Clifford Chance
Damages for Late Payment of Insurance Claims: Time for change
30 March 2017
May 2017 heralds a long-awaited change to the law on the payment of insurance claims, with the introduction of a remedy in damages where claims are paid late. The change follows hot on the heels of the Insurance Act 2015, which has led to many insurers revisiting their policy wordings, and to insureds considering how they collate and present information to insurers. This time it is the handling of claims which will come under scrutiny.
