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Enterprise Bill receives Royal Assent: insurance aspects

Practical Law UK Legal Update 4-627-6528 (Approx. 5 pages)

Enterprise Bill receives Royal Assent: insurance aspects

by Practical Law Dispute Resolution
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On 4 May 2016, the Enterprise Act 2016 received Royal Assent. It includes, among other things, the English and Scottish Law Commissions' proposal for an implied term in every insurance contract that insurers will pay insurance claims within a reasonable time. If in breach, insurers will be liable to pay contractual damages to an insured for losses caused by the delay in payment.

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Published on 06-May-2016
Resource Type Legal update: archive
Jurisdictions
  • England
  • Wales
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