The Enterprise Act 2015 comes into force on 4 May 2016. It will, unless specifically excluded, introduce a new clause into all commercial insurance and reinsurance contracts, requiring the payment of valid claims within a reasonable time. The policyholder’s remedy for breach will be damages for the resulting loss which it suffers, over and above an award of interest. The occasions are probably quite rare on which late payment of a claim by a reputable insurer would cause the type of loss which would be compensable in damages, all the more so in reinsurance, but this will not relieve the pressure on insurers to ensure their claims-handling practices will withstand scrutiny. Time will tell whether a claim for late payment damages becomes a “must-have” add-on to insurance coverage claims, and whether the courts will give unmeritorious claims short shrift.