Regulated activities

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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 Regulated activities content

Precedents
This Agreement is made on [date]Parties1[Customer] a company incorporated in [England] with registered number [company number], whose registered...
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9th Apr
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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9th Apr
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 9th Apr
Practice notes
Background to the regulated activities of effecting and carrying out contracts of insuranceThe regulation of carrying on insurance business in the UK...
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7th Apr
Practice notes
Under the general prohibition a person cannot carry out a regulated activity, or purport to carry out a regulated activity, in the UK unless they are...
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5th Apr
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 Carter Perry Bailey LLP 25th Mar
Practice notes
As a result of the 2008 banking crisis, the government made a number of changes to the UK financial services regulatory structure. As part of the...
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25th Mar
Practice notes
Where and how does the general prohibition apply?There is a fundamental prohibition at the heart of the UK regulatory regime whereby a person cannot...
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19th Mar
Practice notes
An activity is only a regulated activity if it is an activity which is carried out by way of business in the UK. The Financial Services and Markets...
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16th Mar
Precedents
Strictly private and confidentialTo: [Insert legal name of customer organisation] (a company registered in [insert], with company registration number...
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12th Mar
Precedents
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
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12th Mar
Practice notes
This Practice Note outlines the relevant legislative provisions stipulating the requirement to be authorised to provide financial services in the UK....
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Produced in partnership with Sarah Clarke QC of Serjeants' Inn 4th Mar
Practice notes
BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure...
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1st Mar
Practice notes
This Practice Note provides an introduction to the exemptions and exclusions that apply in relation to the general prohibition contained in section 19...
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1st Mar
Practice notes
In this Practice Note, references to exemptions relate to persons who are exempt from the need to apply for authorisation from the Prudential...
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1st Mar
Practice notes
Background to the regulation of assisting in the administration and performance of insurance contractsUnder section 19 of the Financial Services and...
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1st Mar
Precedents
An Agreement dated [date] governing the conduct of Insurance Business between:1[Full name of insurance company][(insert company acronym)] incorporated...
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Produced in partnership with Davinia Collins of Womble Bond Dickinson (UK) LLP 1st Feb
Q&As
Article 25(1) of the Insurance Distribution Directive (Directive (EU) 2016/97) (IDD) requires insurance undertakings, as well as intermediaries which...
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24th Dec

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