Late Payment of Claims: the next battleground uncovered and explained
ABOUT THE SESSION
The Enterprise Act 2016 introduced the notion of damages for late payments of claims. The provision has not received much attention until now. With disputes continuing around payment of claims for business interruption, despite the recent Supreme Court decision in the FCA test case, many policyholders and their lawyers are threatening satellite litigation in seeking damages for late payment of claims.
But what does the law say about late payment of claims? What tests does a policyholder need to satisfy to qualify for damages? How can we defend these claims? What can we learn from other jurisdictions?
This webinar will seek to answer these questions and, through a review of the original Law Commission reports, provide background as to the intention of the law. This webinar will also provide views on how the challenges are likely to develop in the coming years as policyholders and their lawyers increasingly raise arguments seeking damages for late payment of claims.
By the end of the session, participants will be able to:
Understand the intention of the law relating to late payment of claims and how it will be applied.
Recognise the legal tests imposed by law and how other jurisdictions have dealt with such claims.
Implement a strategy to deal with any allegations relating to late payment of claims.
Session Length: 1 hour