Analysis: Business interruption late payment claims a 'live issue'
Insurers could still face claims for damages relating to the late payment of Covid-19 business interruption claims under an as yet untested part of the law, according to lawyers.
Last year policyholder groups said regularly that they would seek damages for the late payment of their claims under the Enterprise Act (2016).
The specific part of the law being referenced is
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Mobility provision a minor factor in surging cost of motor claims
Anthony Hughes, chair and CEO of the Credit Hire Organisation argues the case against credit hire being the major factor in driving up claims costs.
Confused’s Jones on why data is vital as car insurance market hardens
Rhydian Jones, motoring expert at Confused.com, says early signs of the motor insurance market hardening are emerging as a result of increasing claims costs from electric vehicles, and ADAS makes data more vital to providers than ever.
Why rural roads remain a deadly blind spot for insurers
With crashes on rural roads far more likely to prove fatal than those in urban areas, Emma Ann Hughes explores how insurers are shifting from simply pricing risk on country lanes to trying to prevent the collisions that lead to claims.
Consumer trust and claims satisfaction rates on the rise
Both trust and claims satisfaction rates among insurance customers are on the rise, according to new data from Fairer Finance.
Can motor insurers outpace digital deception?
While both fraudsters and the insurance industry are utilising technology and AI to commit and fight fraud, there are barriers to overcome and changes to be made if we want to swing the pendulum in the industry's favour.
How tech and mobile repair can help with increased complexity
Rob Hawes, CEO of Rapid Repair Network, makes a case for mobile repair networks and the potential benefits it can have for alleviating claims pressures.
Big Interview: Matt Cox, Allianz UK
After Allianz UK merged the claims operations of commercial and personal lines, Scott McGee speaks to Matt Cox, the man in charge of the integration and the joint claims team moving forward.
Repair times stabilising but new manufacturers could pose new issues
While it appears the market has mostly overcome the supply chain issues of recent history, getting vehicles back on the road quickly is still a challenge, with new manufacturers causing a new issue.