“A charter for untruth”? The Supreme Court abolishes the fraudulent device doctrine
20.07.2016 | Insurance & Reinsurance
In a judgment delivered today, the Supreme Court (by a majority of 4-1, Lords Sumption, Toulson, Clarke and Hughes, with Lord Mance dissenting) has abolished the ‘fraudulent device doctrine’.
Damages for late payment of claims: the Enterprise Act 2016 – what is it all about?
07.07.2016 | Shipping, Insurance & Reinsurance
On 4 May 2016, the Enterprise Bill received Royal Assent and became the Enterprise Act 2016. Part 5 of the Enterprise Act contains provisions that will amend the Insurance Act 2015 to provide that (re)insurers must pay sums due within a reasonable time. Policyholders will have the opportunity to claim damages if a (re)insurer’s unreasonable delay causes additional loss.
Brexit begins: What are the implications for your business?
24.06.2016 | Business & Finance, Energy, Insurance & Reinsurance, International Trade & Commodities, Shipping
Yesterday, the UK electorate voted to leave the European Union by 51.9% to 48.1%. This will start a process with profound political, economic and social consequences for the UK and its neighbouring European countries.
Damages for late payment of claims – the Enterprise Act 2016
05.05.2016 | Insurance & Reinsurance
On 4 May 2016 the Enterprise Bill received Royal Assent and became the Enterprise Act 2016.
Insurance Act - late payment of insurance claims
16.02.2016 | Insurance & Reinsurance
Currently, where an insurer has unreasonably refused to pay a claim or has caused unreasonable delay in settling the claim, the insured are entitled to recover only that which they are owed under the policy plus interest.
Insurance Act 2015 Publication - February 2016
11.02.2016 | Insurance & Reinsurance
On 12 February 2015 the UK Parliament passed the Insurance Act 2015 (the Act). It will come into effect for new contracts and for variations of contracts entered into on or after 12 August 2016 and will introduce the most significant changes to English commercial insurance law for at least 100 years.