The Enterprise Act 2016 has reformed the way insurers operate and has bestowed additional rights upon policyholders. It affects every insurance policy entered into or renewed on or after Thursday 4 May 2017.
Our infographic focuses on the key changes:
- The obligation on insurers to pay sums due under a policy within a reasonable timeframe;
- the right of policyholders to enforce prompt payment of sums due following a claim; and
- the right of policyholders to claim damages for the late payment of insurance monies.
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