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Ince & Co is committed to providing clients with regular updates on legislative and industry changes in the form of publications, e-briefs and newsletters.

 

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205 result(s) for the Sector "Insurance & Reinsurance",
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    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.

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    Insurance Act 2015 – the key points

    11.02.2016 | Insurance & Reinsurance

    The Insurance Act 2015 (the Act) is the result of a detailed review of insurance contract law conducted by the Law Commissions of England and Wales and of Scotland. The review was prompted in part by a perception that, in some respects, the current law is outdated and unsuitable for the modern business environment.

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    Damages for late payment of claims – the Enterprise Bill 2015

    11.02.2016 | Insurance & Reinsurance

    There is an old fiction in English insurance law that the obligation of an insurer is to keep the insured or its property safe and that any amounts recoverable under an insurance contract are damages for the breach of that duty.

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    Implications of the new laws for claims handling

    11.02.2016 | Insurance & Reinsurance

    There has been a great deal written about the likely impact of the Insurance Act 2015 (the Act) on the placing process and on policy wordings but little has been said about the impact on claims. The Act will, however, govern claims on all contracts entered into on or after 12 August 2016 and there should be no doubt that the changes which it introduces will create a number of challenges and opportunities on the claims side.

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    Implications of the new laws for reinsurance

    11.02.2016 | Insurance & Reinsurance

    Both the Insurance Act 2015 (the Act) and the Enterprise Bill 2015 (the Bill) are applicable to reinsurance as much as to insurance. On their own admission, however, the drafters of both pieces of legislation have given little thought to how the new laws will impact both the traditional and newer reinsurance markets.

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    Non-disclosure of valuation for superyacht

    11.02.2016 | Insurance & Reinsurance

    The Claimant in Involnert v Aprilgrange was the owner of the motor yacht Galatea. In May 2011, insurers insured the yacht for 12 months with an aggregate agreed value of €13 million.

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