Regulation of insurance

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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 Regulation of insurance content

Practice notes
On 7 March 2016, the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR) for UK banks, building societies,...
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Produced in partnership with Carol-Ann Burton and Margarita Kato of Holman Fenwick Willan LLP and Dominic Pereira as research contributor 16th Jan
Practice notes
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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16th Jan
Practice notes
Regulatory background to insuranceThe Financial Services and Markets Act 2000 (FSMA 2000) established a regulatory regime for the financial sector,...
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Produced in partnership with Alice Carse and Anna Greenkey of Devereux Chambers 16th Jan
Practice notes
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 Jamie Rogers of Hogan Lovells 16th Jan
Practice notes
The Financial Conduct Authority (FCA) has statutory objectives which include the protection and enhancement of the integrity of the UK financial...
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Produced in partnership with Marcus Bonnell, and Charlotte Thompson of RPC 16th Jan
Practice notes
Insurers must negotiate a patchwork system of financial and trade sanctions. In the UK, the primary responsibility for administering the financial...
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Produced in partnership with Dil-veer Kang of CMS, Charlotte Thompson of RPC and Marcus Bonnell and updated by Daniel Martin of HFW 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
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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16th Jan
Practice notes
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 Clyde & Co 16th Jan
Practice notes
FCA's Insurance Conduct of Business Sourcebook (ICOBS) contains the standards that apply to all non-investment insurance product sales (general...
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16th Jan
Practice notes
Background to ICOBSOn 6 January 2008, the Financial Conduct Authority's (FCA) predecessor, the Financial Services Authority (FSA) brought into force...
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16th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
16th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
16th Jan
Practice notes
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 Simon Thomas of Goodwin 16th Jan
Practice notes
The FCA's approach to supervising firmsAccording to SUP 1A.1.4 G, the Financial Conduct Authority (FCA)'s regulatory approach aims to focus and...
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Produced in partnership with Marcus Bonnell and Charlotte Thompson of RPC 16th Jan
Practice notes
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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16th Jan
Practice notes
Introduction to the prudential regulatory frameworkThis Practice Note is one of three that provides an overview of the prudential regulatory framework...
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Produced in partnership with Clyde & Co 16th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
16th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
Produced in partnership with Daniel Martin of HFW 16th Jan
Practice notes
The Insurance Distribution Directive (Directive (EU) 2016/97) (IDD) repealed and replaced the Insurance Mediation Directive (Directive 2002/92/EC)...
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Produced in partnership with Jacob Ghanty of Kemp Little 16th Jan

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