Enterprise Bill 2015: Latest update

The Enterprise Bill, which, if enacted, would give policyholders a right to damages for late payment of claims, started its legislative journey when it was introduced into the House of Lords on 16 September 2015.

A set of specific amendments to the late payment provisions of the Enterprise Bill were tabled during the Bill’s Committee Stage on 2 November 2015, but ultimately withdrawn or not moved following debate. Most notably, these amendments had sought specifically to exclude contracts in relation to “large risks” (adopting the EU’s definition of that term) and contracts of reinsurance from the late payment provisions.   

Two further proposed amendments have recently been introduced for debate during the Report Stage of the Bill in the House of Lords, which took place on 25 November. 

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This information is intended as a general discussion surrounding the topics covered and is for guidance purposes only. It does not constitute legal advice and should not be regarded as a substitute for taking legal advice. DWF is not responsible for any activity undertaken based on this information.

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