The Enterprise Act (damages made for late claims) - what are you doing?

The Old Library, Lloyd's
Wednesday, 21 February 2018
1:15 pm – 2:00 pm
    • Andrew Wales QC, Queens Counsel, Recorder, 7KBW & DAC Beachcroft LLP
  • Claims lecture

In this IIL claims lecture Andrew Wales QC considered how the Enterprise Act, which into force in May 2017, may impact on day to day claims handling. Attendees can expect to develop their understanding around the recent changes to the law concerning damages for late payment and what change this may have on claims handling.

Andrew explained that the Enterprise Act 2016 introduced damages for late payment of insurance claims. In this lecture Andrew Wales QC considered the changes to the law and whether it is business as usual or do claims handling procedures need to be rewritten?

Andrew also considered where damages for late payment may be awarded and the resultant issues that may arise.

By the end of this lecture members would have gained an insight into:

  • The changes to the law concerning damages for late payment
  • The impact on claims handling procedures and some practical issues that may arise
  • Whether carriers need to consider their reserving philosophies

Speakers Bio:
Andrew Wales is well known for insurance and reinsurance, energy, shipping and professional negligence. His practice regularly involves issues of jurisdiction and conflict of laws. He regularly appears in the High Court and in arbitration and has also appeared several times in the Privy Council.

Chair:
Gabrielle Folliard, Head of Specialty and Financial Lines Claims, Markel International.

Venue
  • The Old Library, Lloyd's
  • One Lime Street
  • London
  • EC3M 7HA
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Registration & Security

IIL lectures are open to Lloyd's pass holders and CII and PFS/SMP members.
All attendees must register online by 10.30am on the day of the lecture.
All attendees must produce photo ID - either a Lloyd's pass, driving licence with photo or valid passport.

Conditions:

  • Email confirmations and photo ID must be produced to security staff at the lecture venue
  • Attendance confirmations are non-transferable to any other person or lecture
  • All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission

Please let us know what we can do to make our events fully accessible to you.

CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

3/4 hours' CPD can be claimed for this event if relevant to your learning and development needs.

It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.