Further to its thematic review on the general insurance distribution chain (TR19/2), the FCA has published its final guidance on the general insurance distribution chain. The guidance builds on existing rules applicable to both manufacturers and distributors of both general insurance and pure protection products, and clarifies the FCA's expectations in respect of product development, distribution and review. Read more

In Sveriges Angfartygs Assurans Forening (The Swedish Club) and Ors v Connect Shipping Inc and Anor [2019] WLUK 126, the Supreme Court considered what expenditure should be taken into account when determining whether a ship is a constructive total loss (CTL) under the Marine Insurance Act 1906.  The Court upheld the decisions of the lower … Read more

In February 2019, EIOPA published a series of recommendations (the “Recommendations“) for the insurance sector relating to the UK’s withdrawal from the EU (see our earlier blog post here). The French regulator, the Autorité de contrôle prudentiel et de resolution (“ACPR“), has indicated that it does not intend to comply with Recommendation 6, relating to … Read more

In Airbus S.A.S. v Generali Italia S.P.A. and Ors [2019] EWCA Civ 805, the Court of Appeal upheld a declaration that the English court had jurisdiction to determine a subrogated claim brought by insurers concerning damage to an aircraft, pursuant to an exclusive English jurisdiction clause in a warranties agreement between an aircraft manufacturer and … Read more

In what is understood to be the first English law decision on a policy underwritten on the WELCAR form, Mrs Justice Carr in the Commercial Court in Munich Re Capital Limited v Ascot Corporate Name Limited [2019] EWHC 2768 (Comm) held that there was no maintenance cover under a facultative excess of loss reinsurance contract … Read more

The Supreme Court has overturned the Court of Appeal’s decision in Travelers Insurance Company Ltd v XYZ [2019] UKSC 48 in a landmark decision on the question of insurers’ liability for costs under section 51 of the Senior Courts Act 1981 (section 51 SCA). The decision, which is welcome news for liability insurers, brings some … Read more

The FCA’s latest market study (MS18/1.2), on general insurance pricing practices, continues its focus on general insurance markets. Building on an earlier thematic review on home insurance, the FCA has looked in particular at how firms adapt the margins they aim to earn according to the likely behaviour of individual customers. Read more

The outcome of the June 2016 UK referendum on EU membership ushered in a period of increasing political turmoil in the UK. When I wrote an introduction to the first edition of this legal guide my colleagues and I had a clear view that leaving the EU would take far longer and be far more complex than most other commentators were saying, but I did not anticipate then that over three years later we would have so little clarity on the UK and EU’s long term relationship with each other.  Nor that polarisation of views on all sides would have increased still further, leading to political deadlock. This updated Brexit Legal Guide addresses the legal position if the UK leaves the EU with or without a deal and picks out the key pieces of legislation that will soon be in force if the UK leaves the EU without a deal.  I hope you will find it useful. Read more