DESCRIPTION
The Enterprise Act 2016 was passed during May 2016 and comes into force in May 2017. Its provisions apply to insurances taken out or renewed after this date. Effectively it places an implied condition into insurance policies that insurers will assess and pay valid claims promptly. Failure to do so gives the right to policyholders to recover damages from insurers if there are unreasonable delays in settling valid insurance claims.
This course is designed to highlight the circumstances under which damages might be recovered by disgruntled claimants and to describe the legislation changes to law applicable to the processing of insurance claims.
OBJECTIVES
By the end of this course, the reader will:
- Understand the impact upon the handling of insurance claims caused by the Enterprise Act 2016
- Know how claims brought under the Act will be considered by courts
- Appreciate the common defences available to insurers against action brought under the Act
