Law360: An insurance tech firm can't get a patent over its automated policy tracker software in the UK because computer programmes and business methods are not patentable, intellectual property officials said on 19 March 2024.

Law360: Insurance premiums could fall for motorists in Scotland and Northern Ireland after the government's actuary department revised a formula for calculating damages for major injury claims.

This Practice Note considers the duty of fair presentation under the Insurance Act 2015 (IA 2015), which applies to non-consumer policies. For practical guidance on the duty of disclosure under consumer policies, see Practice Note: A guide to the Consumer Insurance (Disclosure and Representations) Act 2012. For further information on all aspects of IA 2015, see Practice Note: Insurance Act 2015 (IA 2015)—essentials. Duty of ‘fair presentation’ Under IA 2015, s 3, the insured has a duty to make a 'fair presentation' of the risk to the insurer. The duty of fair presentation consists of three distinct elements: • disclosure: the insured must satisfy either the ‘primary’ or ‘secondary’ duty of disclosure: ◦ primary duty: the insured must disclose every 'material circumstance' which it 'knows or ought to know'. When deciding what an insured 'knows', it is the knowledge of those responsible for obtaining insurance on behalf of the insured or, alternatively, the senior management of the insured that is relevant. Further, an assured 'ought to know' something that would be revealed on a reasonable search of

This Practice Note considers hard markets and soft markets in the insurance industry and how market conditions affect underwriting, premiums and claims. It also provides practical guidance for insurance renewals. Insurance—hard and soft markets The insurance market can be described as hard or soft, reflecting the economy, market conditions and competition. In a hard market, fewer insurers are willing to offer cover and those that do may provide more limited cover and charge more premium. Life insurance is typically less affected by adverse changes in the market, compared with non-life insurance, which offers shorter periods of insurance. The insurance market needs to be flexible to change and ensure its risk appetite and pricing reflects the changes. An insurer’s diverse portfolio typically allows it to absorb losses from one book of business to another but it should be remembered that an insurer does not necessarily keep its claims reserves in a separate bank account. It will invest the premium it receives and in turn use investment income to support its operation costs. However, some events, such

Vitiation of an insurance policy An insurance policy may be vitiated (or invalidated) if the insured: • misrepresents or fails to disclose any material fact to the insurer before the insurance policy is issued, or • fails to comply with any of the obligations imposed on it during the lifetime of the policy The insured’s obligations are usually expressed in the form of warranties. The remedies available to an insurer arising out of a breach of warranty are discussed in Practice Note: Insurance Act 2015 (IA 2015)—essentials. Insured’s obligations Typical warranties by an insured include those relating to: • proper maintenance of an insured property • the implementation of requirements or recommendations which are issued from time to time by the insurer • giving notice to the insurer of any circumstance (eg alteration to the insured property, or the business that is conducted from it) that increases the risk of destruction, damage or liability Disclosure In Ansari v New India Assurance, a landlord claimed for fire damage under its policy. The insurer resisted payment

This Practice Note is about the practical issues that a tax lawyer should consider when advising on an M&A transaction, structured as a share sale, where one of the parties will be taking out either warranty and indemnity (W&I) insurance, or tax risk insurance. W&I insurance may be taken out by either the buyer or seller to cover losses arising from: • breaches of the seller’s warranties, and • claims under the indemnities in the acquisition agreement (or warranty deed) and/or the tax covenant (if there is one). Tax risk insurance is designed to protect the insured party against a specific tax risk associated with the transaction. In general terms, W&I insurance protects against unknown risks, while tax risk insurance protects against a known contingent tax liability. For a description of the risks each type of insurance will cover, and the process involved in setting up an insurance policy to cover those risks, see Practice Notes: • Warranty and indemnity (W&I) insurance in M&A transactions, and • Insuring

Law360: Losses from natural disasters covered by insurance reached US$17bn in the first three months of 2024, reinsurance broker Aon has reported, with devastating storms in the US and Europe driving up the costs for the sector.

Law360, London: Insured losses from natural catastrophes are projected to pass US$135bn in 2024, marking the fifth consecutive year in which the total exceeded US$100bn, according to a report by the Swiss Re Institute.

A scheme in which the trustees take out an insurance policy for each member that guarantees that each member will receive all the benefits that the scheme rules provide.

Insurance & Reinsurance analysis: The Commercial Court found in favour of Zurich Insurance ruling that, had Zurich been made aware of Niramax’s failure to comply with risk requirements put in place following safety concerns raised by Niramax’s property insurer (and the imposition of special terms arising out of those concerns), Zurich would not have agreed to extend cover to include a fixed plant with a value of over £4m. At trial it was held that Niramax’s historical attitude to managing risk, along with its failure to disclose a number of material facts, resulted in a loss of insurance cover. The decision highlights the importance of an insured’s overall attitude to managing risk and how that might affect its insurance coverage. Written by Susie Wakefield, partner, and Keira Woodward, solicitor, at Shoosmiths LLP.

Law360: Insurance giant Hiscox said it has put aside US$28m to pay potential claims from the collapse of the Francis Scott Key Bridge in Baltimore earlier this year.

Law360, London: Lloyd's of London insurer MS Amlin said on 21 March 2025 that it has committed up to €110m in reinsurance up until 2030 to support war-risk policies underwritten by three Ukrainian insurers.