We help you interpret how insurance policies should be considered against insurance legislation and market practice. We have dedicated subtopics on various types of insurance, such as professional indemnity insurance, trade credit insurance and motor insurance.
We help insurance practitioners interpret policy wording, and provide guidance on how and when to apply principles of aggregation, subrogation, the Insurance Act 2015 and the Third Parties (Rights against Insurers) Act 2010.
Provides advise on the The Financial Services and Markets Act 2000 which imposes a general prohibition on carrying out regulated activities in the UK other than by an authorised or an exempt person.
The module is designed around a core set of subtopics that deal with the principles of insurance and reinsurance law, such as subrogation or the duty to make a fair risk presentation. These subtopics span insurance, reinsurance, and intermediaries and
market practice.
Two other major topics are corporate, and regulation of insurance. These topics include guidance on a range of corporate and regulatory subjects including business transfers, establishment of branches and insolvency. Guidance on innovative or specialised
insurance and reinsurance structures such as insurance linked securities and captives is also found here.
Under ‘Regulation of insurance’, we cover all aspects of the national and international regulatory frameworks that apply to insurers, reinsurance and insurance intermediaries. This includes practical guidance on each type of regulated activity,
with a firm focus on what is relevant to the insurance industry. It also includes sub-topics dealing with governance and the prudential regulation of insurers.
The module also features subtopics on different types of insurance, all of which have their own characteristics and give rise to particular issues. These subtopics feature Practice Notes covering the relevant legal and practical issues, together with helpful materials such as checklists and precedents for letters before action and statements of case.
Insurance & Reinsurance analysis: The Court of Appeal has reversed a High Court decision not to aggregate insured claims where the claims arose out of...
Insurance & Reinsurance analysis: Maeve Morrissey, trainee solicitor, Geoffrey Shreeve, legal director, and Paddy Partridge, solicitor apprentice, all...
Law360, London: The licensed conveyors' watchdog has launched a consultation on whether it should make stand-alone insurance for cyberattacks...
Law360, London: The US Supreme Court will not review a Ninth Circuit decision permitting a group of Lloyd’s underwriters to compel arbitration of a...
Law360, USA: A war exclusion in a property policy did not exclude cover for a cyberattack, a New Jersey state court ruled, siding with pharmaceutical...
Introduction to the EU GDPR and UK GDPRThis Practice Note provides a high-level introduction to the EU’s General Data Protection Regulation,...
Insurance & Reinsurance case tracker—2022This case tracker focuses on insurance and reinsurance-related court cases and decisions.The Insurance &...
Senior management arrangements, systems and controlsThis Practice Note outlines the requirements of the Senior Management Arrangements, Systems and...
FCA rules on information about firms, adviser charging and consultancy chargingIntroduction to the FCA’s requirements on information about firms,...
Insurance & Reinsurance case tracker—2021 [Archived]ARCHIVED: The Insurance & Reinsurance case tracker—2021 has been archived and is not...
Financial services outsourcing agreement (intra group)This Agreement is made on [insert date]Parties1[Insert name of party] a company incorporated in...
Outsourcing agreement—long formThis Agreement is made on [date]Parties1[Customer] a company incorporated in [England] with registered number [company...
Assignment of insurance policies: single company assignor—bilateral—specific moniesThis Deed is made on [insert day and month] 20[insert...
Key Information Document (KID)—templateIP COMPLETION DAY: The Brexit transition period ended at 11pm on 31 December 2020. At this time (referred to in...
Defendant’s Part 36 offer made when claim no longer proceeds under RTA or EL/PL protocolDear [insert organisation name]This offer is made pursuant to...
What is a contract of insurance?This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an...
Marine insurance—general principlesThis Practice Note describes the main principles of marine insurance as governed by the Marine Insurance Act 1906....
Reinsurance—essentialsThe parties to a reinsurance contract and reinsurance terminologyThe principal parties to any reinsurance contract are the...
ICOBS Insurance: Conduct of Business Sourcebook—application, general matters, distance communications, information about the firm and product...
Sanctions clauses and the effect of sanctions on insurance policiesThe Practice Note entitled EU/UK financial and trade sanctions for insurers...
Exclusion clauses in insurance contractsWhat are exclusion clausesUnlike some exclusion or exemption clauses in ordinary contracts, an exclusion...
Insurance—duty of disclosureDuty of 'fair presentation'Under the Insurance Act 2015, s 3 (IA 2015), the insured has a duty to make a 'fair...
Insurance agents and brokersWhat is the difference between an agent and a broker?Where insurance is transacted through an intermediary, that...
Product liability and product recall insuranceWhat is product liability insurance?Product liability insurance provides an indemnity to a business in...
Decennial insuranceDecennial insurance is insurance that is taken out by contractors to cover costs associated with the potential collapse of a...
Insurance reserves, claims data and loss development trianglesThis Practice Note explains insurance industry practice in relation to loss reserves,...
Glossary of insurance and reinsurance termsA B C D E F G H I J K L M N O P Q R S T U V W X Y ZThis glossary includes useful (re)insurance and...
Aggregating insurance claims and reinsurance claimsAggregation—backgroundAggregation remains a major issue in the settlement of insurance and...
Liability insurance—notification of claims and circumstances and defence of claimsThis Practice Note provides guidance on notification provisions in...
Insurance Distribution Directive (IDD)—Insurance Product Information Document requirementsIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the...
Insurance Distribution Directive (IDD)—background and legislative historyThe Directive (EU) 2016/97, Insurance Distribution Directive (IDD) repealed...
Insurance Act 2015 (IA 2015)—essentialsIntroduction to the Insurance Act 2015The Insurance Act 2015 (IA 2015) received Royal Assent on 12 February...
Clawback is a provision which can be included in the terms of an incentive award which allows the company to reclaim value that the participant has received in respect of the award after that value has been delivered to them.
A SAYE scheme is a type of tax-advantaged employee share scheme that meets the requirements of Schedule 3 of ITEPA 2003 under which participants are granted a tax-efficient share option and are required to enter into a linked savings arrangement with a bank or building society.
The Singapore International Arbitration Centre, an arbitral institution, based in Singapore. SIAC arbitrations are administered and conducted pursuant to the SIAC Arbitration Rules. The institution also provides services for ad hoc arbitrations.
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