Bill Esterson – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Bill Esterson on 2016-01-19.

To ask Mr Chancellor of the Exchequer, if he will take steps to improve the monitoring of late payments by insurance companies to claims made by small and medium-sized enterprises.

Harriett Baldwin

The Government recognises the importance of prompt payment by insurers and has taken steps in the Enterprise Bill to introduce a requirement for insurers to pay all claims within a reasonable time and entitle policyholders, including small and medium sized enterprises, to damages where claims are paid late.