Brexit – Implications for insurance intermediaries

Following the UK referendum on EU membership, businesses have no alternative but to prepare for the UK’s exit from the EU. Our “at a glance” guide highlights over two pages some key issues raised by the UK’s withdrawal from the EU for insurance intermediaries. Read more

Insurance Act 2015 comes into force today

Today marks the day that the Insurance Act 2015 (the “Act”) comes into force.  This is the most significant reform of UK insurance law in over 100 years.  From today, the Act will apply to all new insurance and reinsurance policies that are entered into (including renewals) and to any variations agreed to existing policies … Read more

Better rights against insurers of ‘insolvent’ entities – finally here

A key question in any litigation is whether the defendant can satisfy a judgment.  Where the defendant is both insolvent and insured a further issue is whether the claimant can ultimately recover payment from the insurer.  This may be possible under the Third Parties (Rights against Insurers) Act 1930 (“1930 Act“) but there are a … Read more

Getting insured values wrong under the Insurance Act 2015: can insurers avoid the policy, apply average or even ‘double-dip’ with proportionate remedies?

Property and business interruption insurance policies commonly include an average clause permitting the insurer proportionately to reduce the value of the claim for underinsurance. The Insurance Act 2015 provides the insurer with proportionate remedies for breach of the duty of fair presentation, including a right to reduce claims if it would have charged a higher … Read more

New right for policyholders to claim damages for late payment of insurance claims

The Enterprise Act 2016 (“the Act”) received Royal Assent yesterday. Among other reforms, the Act changes English law’s approach to remedies for late payment of insurance claims and now gives policyholders a potential right to claim damages in the event of late payment. These provisions will come into effect on 4 May 2017, and will … Read more

Insurance and Reinsurance Disputes Annual Review 2015 published

We are pleased to share with you our Insurance and Reinsurance Disputes Annual Review of 2015, published today, which provides an overview and analysis of the key cases and developments affecting those engaged in or with contentious matters in the insurance and reinsurance market. Read more

High Court construes “in any way involving” in liability policy

The High Court has held that the words "in any way involving any act, error or omission" before a certain date in an exclusion clause in a professional indemnity policy meant "indirectly caused by".  The act, error or omission must be part of the chain of causation leading to the insured's liability for the underlying … Read more