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Latest Insurance & Reinsurance News

Public liability insurance for deliberate acts, wilful neglect or default (Burnett or Grant (Respondent) v International Insurance Company of Hanover Ltd (Appellant))

Coronavirus (COVID-19)—Insurers offer $US 150m vaccine cover to developing countries

The following Insurance & Reinsurance news provides comprehensive and up to date legal information on Coronavirus (COVID-19)—Insurers offer $US 150m vaccine cover to developing countries

Insurance & Reinsurance monthly highlights—April 2021

The following Insurance & Reinsurance news provides comprehensive and up to date legal information on Insurance & Reinsurance monthly highlights—April 2021

No inducement where insured’s non-disclosure not ‘efficient cause’ of underwriting decision (Zurich Insurance plc v Niramax Group Ltd)

The following Insurance & Reinsurance news provides comprehensive and up to date legal information on No inducement where insured’s non-disclosure not ‘efficient cause’ of underwriting decision (Zurich Insurance plc v Niramax Group Ltd)

Featured Insurance & Reinsurance content

Double insurance and contribution

Overlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover, whether deliberately or...

Insurance conduct regulation—COBS and ICOBS

The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to...

PRA Rulebook—introduction for the insurance and reinsurance sector

On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook...

What is a contract of insurance?

This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of...

Practice notes

Forms of reinsurance and terminology

The parties to a reinsurance contract and reinsurance terminologyThe principal parties to any reinsurance contract are the reinsurer, who assumes the...

9th Nov

Practice notes

Marine insurance—general principles

This Practice Note describes the main principles of marine insurance as governed by the Marine Insurance Act 1906. It looks at the principles of...

9th Nov

Practice notes

Sanctions clauses and the effect of sanctions on insurance policies

The Practice Note entitled EU/UK financial and trade sanctions for insurers outlines the sanctions applicable to insurers, the nature of those...

Produced in partnership with Daniel Martin of HFW 12th Jan

Practice notes

What is fundamental dishonesty?

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...

9th Nov

Practice notes

Claim for subrogation—a restitutionary remedy

What is subrogation?Subrogation is an equitable mechanism aimed at preventing unjust enrichment by permitting one party to ‘step into the shoes’ of...

9th Nov

Practice notes

Decennial insurance

Decennial insurance is insurance that is taken out by contractors to cover costs associated with the potential collapse of a building after completion...

Produced in partnership with David Savage of Charles Russell Speechlys LLP 12th Jan

Practice notes

Insurance—non-vitiation (non-invalidation) clauses

Vitiation of an insurance policyAn insurance policy may be vitiated (or invalidated) if the insured:•misrepresents or fails to disclose any material...

9th Nov

In-house

Practice notes

General principles of insurance contract law

What is insurance law?Insurance law can be split into three parts:•insurance contract law which governs the contractual relationship between insureds...

9th Nov

In-house

Practice notes

Motor insurance

Brexit: The UK's departure from the EU on exit day, ie 31 January 2020, has implications for practitioners considering road traffic accidents. For...

9th Nov

Practice notes

Financial Conduct Authority—Principles for Businesses (PRIN)

This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial Conduct Authority (FCA). The Principles form part of the...

9th Nov

Practice notes

Limitation—professional negligence claims

This Practice Note looks at the limitation period for professional negligence (prof neg) claims and explains how to determine the date of accrual in...

9th Nov

Practice notes

Insurance—duty of disclosure

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...

9th Nov

Practice notes

Fraud, exaggeration and LVIs in personal injury claims

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...

Produced in partnership with Andrew Wilson 12th Jan

Practice notes

Warranty and Indemnity (W&I) insurance in private M&A transactions—guide to the key documents

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...

Produced in partnership with Adrian Furlonge of Hemsley Wynne Furlonge LLP 12th Jan

Practice notes

Overview of the EU legal system

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...

Produced in partnership with Laura Bolado 12th Jan

Brexit

Practice notes

Insurance and reinsurance arbitration—an introduction

Arbitrations arising from insurance and reinsurance disputes share many common features with other types of commercial arbitration. This Practice Note...

Produced in partnership with Ralph Morley of 7KBW 12th Jan

Most recent Q&As content

Q&As

We are a UK insurance company authorised by the PRA and regulated by both the PRA and the FCA. Our insurance policies are sold by us by telephone, and by our corporate business partner companies through their websites and in their UK shops. Some of our customers live on Jersey. Therefore our Jersey customers could have bought our policies at home in Jersey via a telephone call or through the internet, or they could have bought one of our policies in a UK shop and then travelled back home to Jersey as a new policyholder. Which registrations do we need with the Jersey Financial Services Commission, and do we need to be registered or would it be because we have policyholders currently buying new policies? None of our policies are Long Term business.

According to the Jersey Financial Services Commission (JFSC):'Certain forms of insurance business are regulated under the provisions of the Insurance...

28th Apr

Q&As

What is a new product and what classes as a significant change to an existing product in relation to the new Insurance Distribution Directive?

Article 25(1) of the Insurance Distribution Directive (Directive (EU) 2016/97) (IDD) requires insurance undertakings, as well as intermediaries which...

28th Apr

Q&As

In a claim where liability was admitted and a client received a £3,000 interim payment, is there any obligation for that interim payment to be repaid to the defendant's insurers in circumstances where the client is not proceeding? The client has not responded and I am preparing to close their file on that basis.

An interim payment is a payment made by a defendant on account of a claimant's monetary claim before the court has made a final determination on the...

27th Apr

Q&As

What is Products Liability Insurance?

Nature of Products Liability InsuranceProducts Liability insurance is a type of public liability insurance which typically covers sums which the...

27th Apr

Q&As

In the event of a no-deal Brexit, will claimants still have a direct right of action against motor insurers?

This question relates to the European Communities (Rights Against Insurers) Regulations 2002 (EC(RAI) Regs 2002), SI 2002/3061 legislation introduced...

Produced in partnership with Andrew Wilson 22nd Apr

Brexit

Q&As

Is a warranty expressing that a policyholder must not admit liability prior to written consent of the insurer and, if breached, the insurer will not be liable for any losses, valid?

Section 33(3) of the Marine Insurance Act 1906, provides (in part), that if a warranty is breached, the insurer’s liability is completely discharged...

21st Apr

Q&As

In light of the Supreme Court decision in Cameron v LV, what is the correct procedure where the identity of the driver is disputed? Is there any case law on the reverse onus for burdens of proof if the individual is a named policyholder? Can they rely on their own failure to register as the vehicle keeper with the DVLA as prima facie evidence they were not the actual owners?

In Cameron v Liverpool Victoria Insurance Co Ltd, Ms Cameron was injured when her car collided with a Nissan Micra. The driver of the Micra made off...

21st Apr

Q&As

When can a motor insurer obtain a declaration under section 152 of the Road Traffic Act 1988?

Section 151 of the Road Traffic Act 1988 (RTA 1988) provides that a motor insurer is bound to meet a judgment in respect of a relevant liability...

Produced in partnership with Andrew Wilson 21st Apr

Q&As

Prior to the implementation of Solvency II, where could I find the PRA's credit and market risk requirements that applied to insurers?

Prior to the implementation of Solvency II, the Prudential Regulation Authority's (PRA) rules and guidance were contained in:•PRA SYSC 14 (Risk...

16th Apr

Q&As

If an insured company against which an adjudication award has been obtained is dissolved, must that company be restored to the register to pursue the action even though it is subject to an enforced award and liability has therefore crystallised? If so, should proceedings be brought in the client's name or the name of the dissolved company?

The Third Parties (Rights Against Insurers) Act 1930 (TP(RAI)A 1930) was introduced to allow a third party to step into the shoes of the insolvent...

14th Apr

Q&As

If a CCJ is paid off within the one-month time frame as is successfully removed from the register, does not appear on the individual's credit rating as a CCJ? For the purposes of declarations for insurance, would an individual need to say they have a CCJ?

In making a declaration to insurers, the individual should look at the words of the question being asked, which may specify whether insurers seek...

12th Apr

Q&As

In an employer’s liability case, the defendant’s insurers stated that during an investigation after the claimant’s death, the insurer discovered that the defendant had provided non-disclosure and misrepresented material facts and therefore the insurers avoided the insurance policy for the time of the accident and the previous year. The defendant’s company is in voluntary liquidation. Is it possible for the insurers to get out of paying the claim in this way?

It is possible for an insurer to avoid an insurance policy on the basis of non-disclosure and/or misrepresentation of material facts (see, by way of...

Produced in partnership with Katherine Illsley of 4 King’s Bench Walk 12th Apr

Q&As

Does the Insurance Distribution Directive apply to insurance intermediaries distributing only general insurance products (ie no insurance-based investment products)? What is the process for conflicts of interest for insurance intermediaries distributing only general insurance products (ie no insurance-based investment products)? What is the process for conflicts of interest for insurance intermediaries distributing insurance-based investment products?

Insurance Intermediaries: conflicts of interest and the Insurance Distribution Directive (IDD)This Q&A addresses how insurance intermediaries should...

Produced in partnership with Julia Dias QC of 7KBW 9th Apr

Q&As

Will an FCA, solo regulated general insurance intermediary that will become subject (as a core firm) to the Senior Manager's Regime have to have a chief executive function or can the two executive directors simply take on SMF3 executive director functions?

As noted in Practice Note: SM&CR—essentials for banks and PRA-designated investment firms, the Financial Conduct Authority (FCA) is proposing to apply...

8th Apr

Q&As

Could the Brexit transition period be extended due to coronavirus (COVID-19)?

Responding to the coronavirus (COVID-19) pandemic is impacting government priorities across Europe and beyond.In light of COVID-19 developments and...

8th Apr

Brexit

COVID-19

Q&As

What information would it be useful to consider when looking at issues surrounding financial promotion?

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

26th Mar

Q&As

H took out a life assurance policy in 1966 with himself as the life assured and his wife W as the sole beneficiary. The policy is expressed to be subject to section 11 of the Married Women’s Property Act 1882. W has predeceased H, who is still alive. Can the trustees of the policy surrender it during H’s lifetime and pay its proceeds to H’s children?

This Q&A assumes that:•the policy endorsement refers to section 11 of the Married Women’s Property Act 1882•the endorsement was in favour of the...

26th Mar

Q&As

What constitutes a financial promotion under section 21 of the Financial Services and Markets Act 2000 and are there any exemptions?

Financial promotions under section 21 of the Financial Services and Markets Act 2000Under section 21 of the Financial Services and Markets Act 2000...

26th Mar

Q&As

Brexit—what are the passporting and equivalence implications for the UK insurance sector?

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

Produced in partnership with Clare Swirski, corporate insurance partner and Amera Dooley, PSL of Clifford Chance 26th Mar

Brexit

Q&As

What do I need to consider in promoting insurance products online?

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

26th Mar

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View Insurance & Reinsurance by content type:

Latest Insurance & Reinsurance News

Public liability insurance for deliberate acts, wilful neglect or default (Burnett or Grant (Respondent) v International Insurance Company of Hanover Ltd (Appellant))

Coronavirus (COVID-19)—Insurers offer $US 150m vaccine cover to developing countries

Insurance & Reinsurance monthly highlights—April 2021

No inducement where insured’s non-disclosure not ‘efficient cause’ of underwriting decision (Zurich Insurance plc v Niramax Group Ltd)

Featured Insurance & Reinsurance content

Double insurance and contribution

Insurance conduct regulation—COBS and ICOBS

PRA Rulebook—introduction for the insurance and reinsurance sector

What is a contract of insurance?

Most recent Q&As content

Popular documents

PRA Rulebook—introduction for the insurance and reinsurance sector

Voluntary manslaughter

Notaries and notarisation—notarisation

Forum non conveniens—scope and application

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