Consumer Insurance (Disclosure and Representations) Act 2012
The Consumer Insurance (Disclosure and Representations) Act 2012 reformed pre-contractual disclosure in UK consumer insurance, replacing the duty of disclosure derived from the Marine Insurance Act 19…
Contract certainty
Contract certainty is the market principle that the complete terms of an insurance contract must be agreed between the insurer and insured before the contract incepts, and that contract documentation…
Enterprise Act 2016 amendments
Part 5 of the Enterprise Act 2016 amended the Insurance Act 2015 by inserting section 13A (and the associated contracting-out provision in section 16A), creating an implied term in every contract of i…
Fair presentation of the risk
The duty of fair presentation requires a commercial insured to disclose every material circumstance it knows or ought to know, or to give the insurer sufficient information to put a prudent underwrite…
Inducement (insurance)
Inducement is the requirement that an insurer establish, as a matter of fact, that a misrepresentation or non-disclosure actually influenced its decision to enter into the contract or to do so on the…
Insurance Act 2015
The Insurance Act 2015 is the principal statute governing non-consumer insurance contracts in the United Kingdom, introducing the duty of fair presentation, reforming warranties and providing proporti…
Late payment damages (Enterprise Act 2016)
Late payment damages are damages recoverable by an insured for breach of the implied term in section 13A of the Insurance Act 2015 — inserted by section 28 of the Enterprise Act 2016 — that insurers m…
Marine Insurance Act 1906
The Marine Insurance Act 1906 is the foundational codification of English marine insurance law, drafted by Sir Mackenzie Chalmers and still in force, but substantially amended by the Insurance Act 201…
Material circumstance
A material circumstance is one which would influence the judgement of a prudent insurer in deciding whether to accept the risk and, if so, on what terms, and must be disclosed to satisfy the duty of f…
Material misrepresentation
A material misrepresentation is a statement made by the insured in connection with an insurance contract which is false in a material respect, was relied on by the insurer in entering the contract, an…
Reasonable search (Insurance Act 2015)
A reasonable search is the enquiry that an insured is required to make under section 4 of the Insurance Act 2015 to identify material circumstances within its organisation so as to satisfy the duty of…
Section 11 of the Insurance Act 2015
Section 11 prevents an insurer from relying on non-compliance with a contractual term tending to reduce the risk of loss of a particular kind, at a particular location, or at a particular time, where…
Section 13A claims handling duty
Section 13A of the Insurance Act 2015 implies into every contract of insurance a term that the insurer must pay any sums due in respect of a claim within a reasonable time, breach of which entitles th…
Warranty (insurance)
A warranty in insurance is a term by which the insured undertakes that some particular thing shall or shall not be done, or that some condition shall be fulfilled, or whereby the insured affirms or ne…
Warranty into a suspensive condition
Section 10 of the Insurance Act 2015 abolishes the rule that breach of warranty automatically and permanently discharges the insurer's liability, converting warranties into suspensive conditions under…