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Speed of settlement principles
Airmic and various insurers have reviewed the question of how to ensure an appropriate speed of payment of commercial claims for property damage and business interruption that exceed £2.5 million (a “Claim”). This document sets out a Statement of Principles that recognises the need of policy holders under commercial insurances to achieve payment of Claims in an appropriate and timely manner.
To view to full speed of settlement statement of principles please download the document using the links below.
