Law Commission
Airmic welcomes commercial insurance law changes
Proposed changes to the law governing commercial insurance will give risk manages greater confidence in the products offered by the London Market, according to Airmic chief executive John Hurrell.
Law Commission proposals should not 'strike fear' into insurers
Insurers have little to fear from proposals to reform the law governing commercial insurance according to DAC Beachcroft partner Nick Young.
Fraud: Stamping out fraud
The government is keen to minimise fraud to reduce premiums, so what penalties should individuals incur when they try to deceive insurance companies?
C-Suite: Embrace change in 2014
Reforms faced by the industry this year should be welcomed – they have customers’ best interests at heart.
Insurers hope for strike-out legislation after consultation on Summers review
Only two of 18 parties voice opposition to review in Law Commission consultation.
Legal Update: Basis clauses: Insurers stealing a march on the law to make basis clauses a footnote in history
Peter Fitzpatrick explains how basis clauses can often harshly forfeit a policy, and why market forces could see them disappear long before they are formally outlawed.
Airmic unveils warranties guide to boost buyers’ confidence
Airmic, the Association of Insurance Risk Managers in Industry and Commerce, has published a warranties guide to help boost buyers’ confidence that big claims will be paid.
Court of Appeal upholds legality of basis clauses
The court of appeal has confirmed the legality of basis of contract clauses in a case involving Liberty Syndicate.
Post Audio Supplement - 11 July 2013
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Airmic’s basis contract clause campaign bolstered by heavy hitters
Lloyd’s market remains reticent to address elimination of avoidance clauses.
Risk Management: Adapt to survive
Professional buyers and the market that serves them have a shared interest in keeping corporate insurance relevant, yet changing circumstances are threatening its role and value.
Consumer Insurance Act: Under the radar?
The Consumer Insurance (Disclosure and Representations) Act 2012 will upend more than a century of the customer’s duty to disclose information to their insurer. Is the market prepared for this substantial change?
View from the Top: Where is the love?
Survey peddlers should be off the Valentine’s card list as they predict doom and gloom
View from the top: The triumvirate of trust
Reservation of rights does little to reassure the customer that their insurer will honour its promise, says Nicolas Aubert.
Rising liability claims forces Allianz to reduce exposure
Allianz Insurance has linked an increasing number of unemployed people making large liability claims to a decision to cut its exposure in the liability market.
Court of Appeal general damages clarification fails to appease Apil
The Court of Appeal has handed down a judgment confirming a 10% increase in general damages in most civil cases where judgment is given after 1 April 2013.
Comment: Pulling off a balancing act
Will the proposals for reforming insurance contract law in the commercial arena stack up?
Airmic backs disclosure proposal
The Law Commission's proposal to water down commercial policyholders’ duty of disclosure has won the backing of John Hurrell, chief executive of risk management body Airmic, who believes that potential law changes will lead to a shift in the underwriting…
Law Commission publishes latest commercial consultation paper
The Law Commission has published its latest insurance contract law consultation paper today, ahead of plans to present final recommendations to parliament next year.
Opinion: No more 'softly softly' approach to reservation of rights
Reservation of rights as a default position can render it impossible for insureds to finalise annual results, says John Hurrell.
Talking point: unlimited damages for late settlement of claims
The Law Commission's review of insurance contract law has proposed the introduction of unlimited damages for late settlement of claims. But what does the industry think?
Consultation poses questions over premium liability
A Law Commission review of the rules governing who is liable for the payment of premium to insurers could change the current dynamic between insurers and insurance brokers, according to a law firm.
Law commissions proposals will lead to premium rise, says ABI
The Association of British Insurers fears the law commission proposals on insurance contract law will lead to an increase in premiums.