Insurers risk falling foul of Enterprise Act if BI appeals fail
Insurers that do not pay claims swiftly and choose to appeal following the judgment in the Financial Conduct Authority’s business insurance test case could end up paying out more under the Enterprise Act, lawyers have cautioned.
If insurers fail at the appeal stage then lawyers have suggested they run the risk of paying more should policyholders invoke the act.
Philip Kolvin, QC, Cornerstone Barristers, representing the NDML
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