On 21 March the English and Scottish Law Commissions published their third paper in a series of Issues Papers forming part of their wider review of insurance contract law. Although very much intended to promote discussion, the suggestions outlined within the papers so far have the potential to cause far-reaching and significant changes to the insurance industry if adopted in a planned bill at the end of the decade.
The third paper concerns intermediaries and their relationships with both insurers and insureds. It concentrates on three subjects:
- pre-contractual receipt of information by intermediaries;
- completion of proposal forms by intermediaries; and
- section 19 of the Marine Insurance Act 1906.
In particular, the Issues Paper effectively suggests that some established agency principles should be rewritten and restrictions placed, in certain circumstances, on an insurer’s right to avoid.
To view our summary of the third Issues Paper and the Law Commissions' proposals
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To read our Law-Now on the second Issues Paper (Warranties) click
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This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq
Law-Now information is for general purposes and guidance only. The information and opinions expressed in all Law-Now articles are not necessarily comprehensive and do not purport to give professional or legal advice. All Law-Now information relates to circumstances prevailing at the date of its original publication and may not have been updated to reflect subsequent developments.
The original publication date for this article was 23/03/2007.
