About Insurance & Reinsurance Law
Lexis®+ Insurance & Reinsurance caters for both contentious and non-contentious practitioners. It delivers practical guidance on topics ranging from regulatory obligations that apply to insurers and insurance intermediaries, to key legal concepts
in insurance and reinsurance law and practice, to guidance on particular classes of insurance.
Insurance claims
We provide practical guidance in relation to insurance claims, including on subrogation, allocation and aggregation, together with detailed guidance on relevant legislation.
Regulation of insurance
We provide comprehensive guidance on the regulation of insurance in the UK and the EU, alongside trackers and guidance on hot topics such as implementing the FCA's new consumer duty.
Types of insurance
Our guidance includes Practice Notes on the different types of insurance, ranging from aviation insurance to warranty and indemnity cover, and everything in between.
Intermediaries and market practice
Get practical guidance on the functions and duties of insurance intermediaries along with guidance on insurance and reinsurance market practice. This includes a detailed glossary and Practice Notes pack.
Our Insurance & Reinsurance Experts
Susie Wakefield
Charlotte Shakespeare
Rebecca Huggins
Bob Haken
Jonathan Drake
Latest Insurance & Reinsurance News
This week's edition of Insurance & Reinsurance weekly highlights includes: Insurers' application to withdraw Petrofac executives' cover before bribery...
Law360, London: Nine Lloyd's insurers are seeking to avoid covering the criminal defence costs of two former Petrofac International Ltd executives...
This week's edition of Insurance & Reinsurance weekly highlights includes key cases and dates for your diary....
This week's edition of Insurance & Reinsurance weekly highlights includes: FCA names first solo-regulated firms to join Scale-up Unit, PRA publishes...
This week's edition of Insurance & Reinsurance weekly highlights includes: a statement from the ESAs calling for a supervisory approach that mitigates...
Latest Insurance & Reinsurance Practice Notes
Overview of the use of life assurance in estate planningLife insurance or, more correctly, life assurance can be an important tool in estate planning....
This Practice Note sets out the professional indemnity insurance (PII) requirements for accountants and auditors including detailed guidance on the...
This Practice Note provides an overview of insurance clauses in commercial agreements. It covers various types of insurance policies used in these...
With the significant rise in the use of Warranty and Indemnity (W&I) insurance in private M&A transactions, lawyers are involved in the stipulation...
By Jeffrey A. Goldwater and George J. Manos, Lewis Brisbois Bisgaard & Smith LLP, (updated by the Practical Guidance attorney team)This survey...
Latest Insurance & Reinsurance Precedents
This Agreement is made on [date]Parties1[Customer] a company incorporated in [England] with registered number [company number], whose registered...
Note:•this Practice Note gives specific guidance on matters proceeding in the Technology and Construction Court (TCC) under the provisions set out in...
Dear [insert expert’s name]Re: [insert name of client and the client’s date of birth (address and telephone number should be provided separately for...
This clause is a condition to insurance cover requiring the insured to put in place a robust net-zero transition plan prior to the inception of cover...
Insert the following definitions as new definitions into clause 1 of Precedent: Share purchase agreement—pro-seller—corporate seller—conditional—long...
Latest Insurance & Reinsurance Q&As
Featured Insurance & Reinsurance content
Public liability insurance—essentials
Public liability insurance—essentialsPublic liability insurancePublic liability insurance is a form of liability insurance that indemnifies a...
Subrogation in insurance and reinsurance
Subrogation in insurance and reinsuranceWhat is the right of subrogation?In the context of insurance and reinsurance, the right of subrogation...
Insurable interest
Insurable interestThis Practice Note considers insurable interest, including insurable interest in construction and liability insurance. It also...
Insurance agents and brokers
Insurance agents and brokersWhat is the difference between an agent and a broker?Where insurance is transacted through an intermediary, that...
Professional indemnity insurance—essentials
Professional indemnity insurance—essentialsWhat is professional indemnity insurance?Professional indemnity insurance is a form of liability insurance....
Reinstatement of insured property after a loss
Reinstatement of insured property after a lossWhat is reinstatement?Reinstatement is the repair or replacement of property so that it is in the same...
Terms of Business Agreement (TOBA)—insurer and managing agent/broker
Terms of Business Agreement (TOBA)—insurer and managing agent/brokerAn Agreement dated [date] governing the conduct of Insurance Business...
Exclusion clauses in insurance contracts
Exclusion clauses in insurance contractsWhat are exclusion clausesUnlike some exclusion or exemption clauses in ordinary contracts, an exclusion...
Professional indemnity insurance—solicitors
Professional indemnity insurance—solicitorsThis Practice Note sets out the professional indemnity insurance requirements for solicitors, including...
Hull and machinery insurance
Hull and machinery insuranceWhat is hull and machinery insurance?Hull and machinery insurance (‘H&M insurance’) is a form of insurance which...
Trade credit insurance—essentials
Trade credit insuranceTrade credit insurance typically provides protection to a policyholder against non-payment of accounts receivable, due to the...
Double insurance and contribution
Double insurance and contributionOverlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover,...
Marine insurance—general principles [Archived]
Marine insurance—general principlesThis Practice Note describes the main principles of marine insurance as governed by the Marine Insurance Act 1906....
The functions and duties of insurance brokers—policy placement
The functions and duties of insurance brokers—policy placementThis Practice Note provides a high level introduction to the functions and duties of...
Product liability and product recall insurance—essentials
Product liability and product recall insuranceWhat is product liability insurance?Product liability insurance provides an indemnity to a business in...
Sanctions clauses and the effect of sanctions on insurance policies
Sanctions clauses and the effect of sanctions on insurance policiesThe Practice Note entitled EU/UK financial and trade sanctions for insurers...
What is meant by an 'indemnity to principals' provision and an 'additional insured' provision? What are the practical differences in protection each affords to the principal/additional insured?
Outsourcing in insurance—one minute guide
Outsourcing in insurance—one minute guideThis Practice Note provides a high level guide to the key regulatory and practical issues relating to...
Associated legal terms
Average
In (re)insurance, the pro-rating of an indemnity payable under a (re)insurance policy in proportion to the ratio between the sum insured and the actual value of the insured property.
Claim or circumstance
a claim, in a (re)insurance context, is a request for an indemnity under an insurance policy whereas a circumstance is a situation or event from which a claim may arise.
Whole life insurance
Whole life insurance is a form of long‑term life assurance under which the insurer is contractually obliged to pay a lump sum on the death of the life assured, whenever that occurs, provided premiums are maintained (or a fully paid‑up status is reached). Unlike term insurance, cover is not limited to a fixed period and typically includes a savings or investment element affecting surrender value and premium levels.
The term is primarily a descriptive one used in insurance practice, policy documentation and financial regulation, rather than being exhaustively defined in statute. Regulatory treatment and consumer protection requirements derive mainly from financial services legislation and rules (for example, the UK Financial Services and Markets Act regime and FCA rules; and equivalent Central Bank of Ireland frameworks), rather than specific “whole life” legislation.
Key legal issues for advisers include insurable interest at inception, non‑disclosure and misrepresentation, policy assignment and trust planning, inheritance tax or capital acquisitions tax consequences, and treatment on divorce, bankruptcy or death. Usage and core legal characteristics are broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland, although tax treatment, regulation and succession rules differ between jurisdictions and must be checked in each case.
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