On 4 October 2019, the FCA published its much anticipated Interim Report on its Market Study into general insurance pricing practices (the “Interim Report“)....more
The FCA’s Thematic Review into GI insurance distribution chains (published on 10 April 2019) has concluded that certain GI sector manufacturing, sales and distribution approaches can lead to customers purchasing inappropriate...more
From 1 April 2019 two significant changes take effect:
- The jurisdiction of the FOS is extended to cover small and medium-sized enterprises, certain charities and trusts and personal guarantors; and
- The FOS award...more
The FCA has yesterday launched a market study into wholesale insurance broking practices. The FCA has published Terms of Reference for the study, which are discussed...more
From today, insurers in the UK will be required to pay valid insurance claims within a reasonable time and may be hit with damages claims from insureds, if they fail to do so. ...more
The FCA has outlined the current trends, risks and its overall assessment of the General Insurance sector in its 2017 Sector Views, published last week. ...more
4/28/2017
/ Arbitrage ,
Automotive Industry ,
Big Data ,
Competition ,
Connected Cars ,
Data Collection ,
Financial Conduct Authority (FCA) ,
Insurance Industry ,
Online Platforms ,
Regulatory Standards ,
Retail Market ,
Supply Chain ,
Technology Sector ,
UK ,
Websites ,
Wholesale
In its recently published 2017/2018 Business Plan the FCA outlines its priorities for the general insurance sector over the coming year and beyond....more
Be aware of drafting (or seeking to interpret) a contractual indemnity provision in isolation. Appreciating the wider contractual context will avoid surprises.
The Supreme Court has held that the indemnity clause in an...more
Earlier this week, the Supreme Court overturned the Court of Appeal’s judgment in AIG Europe Limited v Woodman and others UKSC 2016/0100, ruling on how claims arising from similar acts or omissions in a series of related...more
3/24/2017
/ AIG ,
Appeals ,
Denial of Insurance Coverage ,
Indemnity Insurance ,
Insurance Claims ,
Insurance Industry ,
Insurance Litigation ,
Policy Limits ,
Real Estate Development ,
SCOTUS ,
UK