The following Insurance & Reinsurance Q&A provides comprehensive and up to date legal information covering:
An insurance policy is a contract and the normal rules of contract formation apply. This means that there must be offer, acceptance, consideration and the intention to create legal relations. For more information about contract formation, see Practice Note: General principles of insurance contract law.
With insurance policies, it is generally the case that the contract itself is reduced to writing and therefore any question as to the extent of the policy and its terms should be addressed in the first instance by checking the written policy terms.
The first question would appear to be whether or how the relevant professional body’s minimum term are incorporated into the policy. Such minimum terms could be incorporated eithe
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