What underwriters should be doing as the Insurance Act comes into force

After over eight years of review and consultation by the Joint Law Commissions, the most radical change to UK insurance contract law for over 100 years came into force on 12 August. David Kendall sets out the main issues for underwriters.

David Kendall (dkendall@cooley.com) is a partner with law firm Cooley (www.cooley.com), who focuses on all aspects of insurance and reinsurance. He is immediate past chairman of the British Insurance Law Association.

The Insurance Act 2015, which came into force on 12 August 2016, will apply to all UK law contracts of insurance and reinsurance (or variations to current contracts) underwritten on or after that date. Contracts of insurance include slips, declarations under lineslips, and certificates issued by coverholders.