Enterprise Act 2016
This paper provides an introduction to the Enterprise Act 2016, highlighting aspects that will be of interest to claims handlers and loss adjusters.
The Enterprise Act 2016 introduces the option for Insureds to claim damages for late payment of claims. The writer outlines some of the key points, including the time period limitation, Insurers option to contract out and interpretation of the term “reasonable”. The writer also discusses the potential impact for loss adjusters in relation to claim file documentation, interim payments and settlement agreements.
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