The Insurance Act 2015 (IA 2015) represents the most comprehensive update of the statutory framework of English law for insurance contracts since the Marine Insurance Act 1906 (MIA 1906). This Practice Note considers the key provisions of the IA 2015 and how they will reform the law. This Practice Note also consider reforms to the Third Parties (Rights Against Insurers) Act 2010 introduced by the IA 2015 and changes to the law on damages for late payment of insurance claims, introduced by the Enterprise Act 2016 as Part 13A of the IA 2015.