This is the third and final Consultation Paper in the English and Scottish Law Commissions’ joint review of insurance contract law. It covers the business insured’s duty of disclosure and the law of warranties.
The Marine Insurance Act, 1906 is durable and enduring, substantially unamended in over 100 years. There have of course been calls to amend the Act in the past. But are we now finally on the cusp of significant change to the Act and reform of insurance contract law? This white paper investigates.
Rod Evans kicked off his FOIL Presidency with a controversial question at the FOIL Conference. Is it time to rethink full compensation? FOIL's update assesses two recent cases which awarded large damages, outlines the scale of the problem and compares compensation approaches in Europe and America.
Following consultation on its provisional decision in May to refer the UK private motor insurance market to the Competition Commission (CC), the OFT has now made a final decision that the referral should be made. Download this article for analysis of the latest developments and the implications.
In August 2011, a series of riots swept the UK, which resulted in 5000 crimes committed in 66 areas. Property damage and business interruption claims cost Insurers an estimated £200 million in claims. This PDF version of the Riot Act 1886 covers the compensation process for those affected.
Could Leveson even cure whiplash? – a FOIL summary of the past 16 months sound and fury.
Private motor insurance: Report on the market study and proposed decision to make a market investigation reference - May 2012
This market study launched following a call for evidence on the UK private motor insurance market. The information gathered gave the OFT reasonable grounds for suspecting that there are features of the UK market for private motor insurance that are preventing, restricting or distorting competition.
This report focuses on mechanisms and financial and economic aspects of resolution in insurance. Covering the processes and risks of insurer wind-downs, the report also examines the perception that company failures can quickly create a systemic threat.
Financial Institutions are subject to considerable legislation, however the Basel Committee on Bank Supervision resolved in the light of the credit crunch to publish in October 2010 their own principles for enhancing corporate governance.
This report outlines the findings of research conducted to measure the penetration of desired FSA outcomes amongst medium-sized commercial insurance customers, in terms of improving the transparency of broker/intermediary remuneration.