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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 Intermediaries and market practice content

Practice notes
This Practice Note provides a high level introduction to the functions and duties of insurance brokers and explains the roles of insurance brokers and...
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16th Jan
Practice notes
This Practice Note explains insurance industry practice in relation to loss reserves, insurance claims data and loss development triangles in general...
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16th Jan
Practice notes
A 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 underwriting definitions. For specific guidance on...
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16th Jan
Practice notes
What is the Lloyd’s market?The Lloyd’s market is an insurance market, whose origins date back to the seventeenth century. Merchants would meet at...
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Produced in partnership with The Society of Lloyd's Legal Team 16th Jan
Practice notes
This Practice Note provides a high level introduction to the role of reinsurance brokers when placing reinsurance that is intended to be...
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16th Jan
Practice notes
What is the difference between an agent and a broker?Where insurance is transacted through an intermediary, that intermediary is usually either an...
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Produced in partnership with Ruth Hosking of Quadrant Chambers 16th Jan
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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16th Jan
Practice notes
This Practice Note considers hard markets and soft markets in the insurance industry and how market conditions affect underwriting, premiums and...
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16th Jan
Practice notes
UK insurers are required to file annual accounts under the Companies Act 2006. An insurer’s accounts are subject to other reporting standards, such as...
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16th Jan
Precedents
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with Davinia Collins of Womble Bond Dickinson (UK) LLP 8th Jan

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