April 13, 2021

UK: Damages for late payment of insurance claims available from May 2017

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By Max Dannheisser & Martin Membery Contributed by Sidley Austin LLP From International Law Office Introduction Insured’s right to claim damages New uncertainties Contracting out Practical considerations Introduction The Enterprise Act 2016, which was enacted by Parliament on May 4 2016, contains a provision that will require insurers to pay claims within a reasonable time. This opens […]

Commission and remuneration for insurance agents and intermediaries: poised for change

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By Celia Jenkins Contributed by Tuli & Co From International Law Office Overview Historically, the insurance statutory and regulatory framework has strictly restricted the amount of commission or remuneration that could be paid to insurance agents and insurance intermediaries (eg, insurance brokers, corporate agents, web aggregators and insurance marketing firms) for the solicitation and procurement of insurance […]