Using boilerplate provisions in public sector contracts This Practice Note looks at insurance clauses in public sector contracts. For more information on what contracting authorities (and other interested parties) need to know when using boilerplate provisions in public sector agreements, see Practice Note: Boilerplate provisions in public sector agreements: general considerations. Public procurement reform As of 24 February 2025, the main provisions of the Procurement Act 2023 (PA 2023) are in force. Procurements begun on or after this date must be carried out under PA 2023. The existing public procurement rules (including the Public Contracts Regulations 2015 (PCR 2015) and Procurement Practice Notes (PPNs), Utilities Contracts Regulations 2016, Concession Contracts Regulations 2016, and Defence and Security Public Contracts Regulations 2011) and/or those governed by other statute(s) (such as health care procurements) continue to apply to procurements already commenced when the PA 2023 regime entered into force. Procurements starting after the entry into force of PA 2023 must be conducted by reference to PA 2023 only. Procurements commenced under the previous legislation

Either (1) a person who has permission under the Financial Services and Markets Act 2000, Part 4 to effect or carry out contracts of long-term insurance; or (2) a European Economic Area (EEA) firm of the kind mentioned in Financial Services and Markets Act 2000, Sch 3 para 5(d) (certain direct insurance undertakings) which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of long-term insurance.

This Practice Note provides an overview of the key provisions of the Financial Conduct Authority’s (FCA) Insurance: Conduct of Business sourcebook (ICOBS) relating to advice and product information, specifically ICOBS 5 and ICOBS 6. Implementation of the Insurance: Conduct of Business sourcebook (ICOBS) On 6 January 2008, the FCA’s predecessor, the Financial Services Authority (FSA), brought into force ICOBS, which replaced the existing Insurance: Conduct of Business sourcebook (ICOB). The principal change introduced by ICOBS was to move away from a prescriptive rule-based way of supervising firms to a more principles-based or outcome-focused methodology. This meant that pre-existing rules in ICOB were simplified where the FSA felt that specific customer protection was not required. ICOBS has been amended on several occasions, most notably to implement the Insurance Distribution Directive (Directive (EU) 2016/97) (IDD), which was transposed into UK law on 1 October 2018. Although the UK has since withdrawn from the EU and certain assimilated IDD provisions have been transferred and replaced in domestic law, the UK has sought to maintain continuity

This Practice Note provides an overview of the key provisions of the Financial Conduct Authority's (FCA) Insurance: Conduct of Business sourcebook (ICOBS) relating to cancellation rights and claims handling, specifically ICOBS 7 and ICOBS 8. Implementation of the Insurance: Conduct of Business sourcebook (ICOBS) On 6 January 2008, the FCA’s predecessor, the Financial Services Authority (FSA), brought into force ICOBS, which replaced the existing Insurance: Conduct of Business sourcebook (ICOB). The principal change introduced by ICOBS was to move away from a prescriptive rule-based way of supervising firms to a more principles-based or outcome-focused methodology. This meant that pre-existing rules in ICOB were simplified where the FSA felt that specific customer protection was not required. ICOBS has been amended on several occasions, most notably to implement the Insurance Distribution Directive (Directive (EU) 2016/97) (IDD), which was transposed into UK law on 1 October 2018. Although the UK has since withdrawn from the EU and certain assimilated IDD provisions have been transferred and replaced in domestic law, the UK has sought to maintain continuity

This Practice Note provides an overview of the key provisions of the Financial Conduct Authority's (FCA) Insurance: Conduct of Business sourcebook (ICOBS) that govern general matters and information disclosure requirements. Implementation of the Insurance: Conduct of Business sourcebook (ICOBS) On 6 January 2008, the FCA’s predecessor, the Financial Services Authority (FSA) brought into force ICOBS, which replaced the existing Insurance: Conduct of Business sourcebook (ICOB). The principal change introduced by ICOBS was to move away from a prescriptive rule-based way of supervising firms to a more principles-based or outcome-focused methodology. This meant that pre-existing rules in ICOB were simplified where the FSA felt that specific customer protection was not required. ICOBS has been amended on several occasions, most notably to implement the Insurance Distribution Directive (Directive (EU) 2016/97) (IDD), which was transposed into UK law on 1 October 2018. Although the UK has since withdrawn from the EU and certain assimilated IDD provisions have been transferred and replaced in domestic law, the UK has sought to maintain continuity in the regulation of insurance

This Practice Note provides an overview of the Financial Conduct Authority’s (FCA’s) Conduct of Business sourcebook (COBS) and Insurance: Conduct of Business sourcebook (ICOBS) as they apply to insurers, highlights key differences in their application, and outlines the obligations that COBS and ICOBS place on insurance intermediaries. It also considers recent FCA reforms and proposals to simplify the insurance conduct regime, including changes affecting commercial customers, disclosure, advised sales and the territorial scope of ICOBS. Background to COBS and ICOBS When established by the Financial Services and Markets Act 2000 (FSMA 2000), the Financial Services Authority (FSA), the predecessor to the FCA and Prudential Regulation Authority (PRA), was given responsibility for regulating conduct of business relating to long-term insurance contracts in the Conduct of Business sourcebook (COB), the FSA’s sourcebook for investment business. From 14 January 2005, changes to the FSA Handbook designed to implement the EU Insurance Mediation Directive (Directive 2002/92/EC) (IMD) gave the FSA responsibility for the regulation of non-investment insurance contracts through the creation of the Insurance: Conduct of Business sourcebook (ICOB). COB

This Practice Note considers the various types of insurance policies that may be held by parties to financial remedy proceedings, including life insurance/assurance, medical insurance and endowment policies. It also sets out the circumstances in which it may be desirable for a new policy to be put into effect and drafting considerations when dealing with insurance policies. Parties to divorce or dissolution proceedings should consider the various insurance products that they hold either individually or jointly, including those with no surrender value. This Practice Note focuses on two more complex areas: medical insurance and life insurance/assurance. Medical insurance In the UK, private healthcare can be obtained through private insurance, generally as a top-up to NHS services. It may be provided by employers to employees as part of their remuneration package. Such packages often allow the employee to extend the insurance cover to their spouse/civil partner and children at favourable rates. Private medical cover for parties who are living or working overseas may be particularly important as the parties may be unable to

Insurance & Reinsurance analysis: The Technology and Construction Court (TCC) largely dismissed an insurer’s application for summary judgment in a claim under a housing warranty insurance policy, concerning alleged fire safety and construction defects. The court held that the claimant had a real prospect of establishing that several alleged defects created a ‘threat of imminent destruction or physical damage’ within clause 3(a)(iii) of the policy (at paras [3], [17]). The court rejected the insurer’s submission that ‘imminent’ required proof that damage was likely to occur very soon; holding, instead, that the clause required a realistic and serious risk of destruction or damage occurring sufficiently soon, to be assessed objectively at the time the defect became manifest (at [26], [29], [44]). As a result, summary judgment was granted only in respect of Defect 4 (bracketry) (at paras [57]–[59] and [61]). Written by Michael Woollcombe-Clarke, barrister at Crown Office Chambers.

As a general rule, law firms are not permitted to engage directly in insurance distribution activities, unless they are authorised by the Financial Conduct Authority (FCA). This Practice Note focuses on law firms carrying on insurance distribution activities on an ancillary basis, which is permitted. This is most likely to be relevant to law firms engaging in conveyancing, personal injury or private client work, who arrange ancillary insurance such as defective title insurance, after-the-event insurance for legal fees or a seven-year plan for inheritance tax. This Practice Note reflects regulatory requirements applying to law firms under the insurance distribution regime and the SRA Financial Services (Scope) Rules and SRA Financial Services (Conduct of Business) Rules (COB Rules). See also Precedent: Letter recommending insurance—demands and needs—law firms. This Practice Note does not cover financial services activities relating to pre-paid funeral plans. As a general rule, you cannot act as a provider of pre-paid funeral plans or administer such plans unless you are authorised by the FCA. However, you can act as an intermediary in relation to pre-paid

A: Regulatory status and registration Requirement Compulsory or recommended? Comments (if any) ☐ Establish whether and to what extent you undertake insurance distribution activities, ie are you:—engaging directly in insurance distribution activities in relation to insurance-based investment products (or creating, developing, designing and/or underwriting a contract of insurance)—engaging indirectly in insurance distribution activities acting as an ancillary insurance intermediary—simply introducing clients to third party insurance providers, or—satisfied that none of the above apply, ie you do not undertake insurance distribution activities in any capacity (in which case you can disregard this checklist) Compulsory You need to determine the nature of your insurance distribution activities, so you can be clear on what regulatory requirements apply, if any (insert any comments you may wish to make regarding your firm’s arrangements) ☐ If you engage directly in insurance distribution activities in relation to insurance-based investment products (or create, develop, design and/or underwriting a contract of insurance) ensure you are properly authorised by the Financial Conduct Authority (FCA) Compulsory Firms wishing to engage directly in insurance distribution

Insurance fraud refers to dishonest conduct connected with obtaining, maintaining or enforcing insurance cover, typically by making false or exaggerated claims, misrepresenting material facts to an insurer, or staging or fabricating loss events to secure payment or other benefits.Across England & Wales and Northern Ireland, such behaviour is generally prosecuted under broad dishonesty and fraud offences, notably the Fraud Act 2006, common law conspiracy to defraud and related offences (for example, false accounting). In Scotland, it is addressed principally through the common law crime of fraud and related statutory offences. In Ireland, insurance fraud is prosecuted under general fraud and deception offences in the criminal law, rather than a standalone “insurance fraud” statute.“Insurance fraud” is therefore a descriptive term rather than a single codified offence, and can arise in civil and criminal contexts. It encompasses policyholder, third-party, intermediary and insider fraud, and is central to coverage disputes, policy avoidance, repudiation of claims, subrogation, and regulatory and criminal investigations. Usage and core concepts are broadly consistent across the UK and Ireland, with differences mainly in the underlying statutory framework and evidential tests for dishonesty.

Law360, London: A fraudster has been hit with a 20-month prison sentence after he pocketed almost £12,000 after he used multiple identities to file fake home insurance claims under multiple identities, a London police force said 22 August 2024.