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Practice notes
The parties to a reinsurance contract and reinsurance terminologyThe principal parties to any reinsurance contract are the reinsurer, who assumes the...
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9th Nov
Practice notes
This Practice Note describes the main principles of marine insurance as governed by the Marine Insurance Act 1906. It looks at the principles of...
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9th Nov
Practice notes
The Practice Note entitled EU/UK financial and trade sanctions for insurers outlines the sanctions applicable to insurers, the nature of those...
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Produced in partnership with Daniel Martin of HFW 12th Jan
Practice notes
This Practice Note considers fundamental dishonesty both in the context of section 57 of the Criminal Justice and Courts Act 2015 (CJCA 2015) and the...
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9th Nov
Practice notes
What is subrogation?Subrogation is an equitable mechanism aimed at preventing unjust enrichment by permitting one party to ‘step into the shoes’ of...
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9th Nov
Practice notes
Decennial insurance is insurance that is taken out by contractors to cover costs associated with the potential collapse of a building after completion...
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Produced in partnership with David Savage of Charles Russell Speechlys LLP 12th Jan
Practice notes
Vitiation of an insurance policyAn insurance policy may be vitiated (or invalidated) if the insured:•misrepresents or fails to disclose any material...
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9th Nov
Practice notes
What is insurance law?Insurance law can be split into three parts:•insurance contract law which governs the contractual relationship between insureds...
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9th Nov
Practice notes
Brexit: The UK's departure from the EU on exit day, ie 31 January 2020, has implications for practitioners considering road traffic accidents. For...
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9th Nov
Practice notes
This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial Conduct Authority (FCA). The Principles form part of the...
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9th Nov
Practice notes
This Practice Note looks at the limitation period for professional negligence (prof neg) claims and explains how to determine the date of accrual in...
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9th Nov
Practice notes
Duty of 'fair presentation'Under the Insurance Act 2015, s 3 (IA 2015), the insured has a duty to make a 'fair presentation' of the risk to the...
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9th Nov
Practice notes
DefinitionsFraudDefined in Derry v Peek as where it is shown that:'a false representation has been made (1) knowingly, or (2) without belief in its...
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Produced in partnership with Andrew Wilson 12th Jan
Practice notes
With the significant rise in the use of Warranty and Indemnity (W&I) insurance in private M&A transactions, lawyers are increasingly involved in the...
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Produced in partnership with Adrian Furlonge of Hemsley Wynne Furlonge LLP 12th Jan
Practice notes
Brexit: This Practice Note contains guidance on subjects impacted by the UK’s withdrawal from the EU. As of 31 January 2020 (exit day), the UK is no...
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Produced in partnership with Laura Bolado 12th Jan
Practice notes
Arbitrations arising from insurance and reinsurance disputes share many common features with other types of commercial arbitration. This Practice Note...
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Produced in partnership with Ralph Morley of 7KBW 12th Jan

Most recent Insurance principles and concepts content

Practice notes
Coronavirus (COVID 19): HM Treasury announced on 13 May 2020 that businesses with supply chains which rely on trade credit insurance and who are...
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Produced in partnership with Sullivan 21st Jan
Practice notes
What is subrogation?Subrogation is an equitable mechanism aimed at preventing unjust enrichment by permitting one party to ‘step into the shoes’ of...
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18th Jan
Practice notes
What is the right of subrogation?In the context of insurance and reinsurance, the right of subrogation entitles an insurer or reinsurer, having...
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Produced in partnership with Eleanor Ruiz of Reed Smith and Mark Pring of Reed Smith 16th Jan
Practice notes
IntroductionOne of the purposes of a commercial contract is to allocate risk and liability through, for example, the provision of indemnities. In this...
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Produced in partnership with Frank Thompson and Tomás Mac Gearailt of Eversheds LLP 16th Jan
Practice notes
Introduction to the Insurance Act 2015The Insurance Act 2015 (IA 2015) received Royal Assent on 12 February 2015 and, apart from Part 6 of the Act,...
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Produced in partnership with Oliver Saunders of Bryan Cave Leighton Paisner LLP 16th Jan
Practice notes
What are exclusion clausesUnlike some exclusion or exemption clauses in ordinary contracts, an exclusion clause in a contract of insurance is not...
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Produced in partnership with Susie Wakefield of Shoosmiths 16th Jan
Practice notes
This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of...
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Produced in partnership with RPC 16th Jan
Practice notes
AllocationIn the context of insurance and reinsurance, ‘allocation’ is the determination of which insurance policy a loss or part of a loss is covered...
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Produced in partnership with Rupert Warren of Holman Fenwick Willan and Celia Richardson of Holman Fenwick Willan 16th Jan
Practice notes
Insurance contracts have always had an aura of mystery about them in the eyes of law students and lawyers. This is because they are contracts of the...
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Produced in partnership with Alexander Rosenfield of Fenchurch Law and John Curran of Fenchurch Law 16th Jan
Practice notes
This Practice Note considers insurable interest, including insurable interest in construction and liability insurance. It also considers insurable...
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Produced in partnership with Dr Franziska Arnold-Dwyer of Centre for Commercial Law Studies at Queen Mary University of London 16th Jan
Practice notes
Joint insuranceJoint insurance arises where two or more people insure separate insurable interests in the same property with the same insurer under a...
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15th Jan
Practice notes
The principle of subrogationSubrogation is the right of an insurer, once it has made payment to its insured for loss covered by an insurance policy,...
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15th Jan
Practice notes
Rights under insurance policies are a type of contractual right.Lenders can take security over insurance policies by an assignment by way of security....
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12th Jan
Practice notes
What is insurance law?Insurance law can be split into three parts:•insurance contract law which governs the contractual relationship between insureds...
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12th Jan
Practice notes
Overlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover, whether deliberately or...
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Produced in partnership with Susie Wakefield and Matthew Brown of Shoosmiths LLP 8th Jan
Q&As
The following questions potentially arise:•has there been an increase in risk which the insured is obliged to disclose during the currency of the...
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Produced in partnership with Julia Dias QC of 7KBW 8th Jan
Practice notes
Aggregation—backgroundAggregation remains a major issue in the settlement of insurance and reinsurance claims leading to a number of disputes across...
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Produced in partnership with Andrew Burns QC of Devereux Chambers 8th Jan
Practice notes
An insurance premium is the sum paid for insurance or reinsurance cover and is the consideration paid by the (re)insured for the (re)insurer’s...
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22nd Dec
Practice notes
Duty of 'fair presentation'Under the Insurance Act 2015, s 3 (IA 2015), the insured has a duty to make a 'fair presentation' of the risk to the...
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22nd Dec

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