The Sunday Times has reported on Lloyd’s CEO Inga Beale’s warning that proposed changes to the law to protect businesses from late-paying insurers are “fundamentally flawed”. Mactavish CEO Bruce Hepburn is quoted challenging the Lloyd’s position. “If a business is damaged as a result of insurers not doing their job properly, then a customer should be entitled to further compensation” Mr Hepburn explained. The proposed changes are part of the government’s Enterprise Bill and would allow businesses to seek damages from insurers who do not settle claims within a reasonable amount of time. Lloyd’s is proposing an amendment to water down the changes.

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