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Index

Insurance Act 2015: A new regime for commercial and marine insurance law

Page 169 Index Index Amendment: insurance contract 26 Avoidance: fraudulent claims, and 65 – 7 ; good faith, and 38 ; misrepresentation, and 25 – 6 ; non-disclosure 25 – 6 ; utmost good faith, and 24 – 5 bad faith: fraudulent claims, and 61 basis clauses 54 breach of warranty 57 – 8 burden of proof: causation test, and 121 ; fair presentation, and 116 causation 119 caveat emptor 111 – 12 City of London; insurance, and 2 commercial contracts: contracting out of see contracting out commercial risks 12 – 37 ; duty of utmost good faith 13 – 26 see also Utmost good faith common law: late payment of claims 78 – 81 ; warranties 54 – 5 consumer: concept of 2 – 3 Consumer Insurance (Disclosure and Representations) Act 2012 6 – 7 , 107 contract: effect of fraud on 65 – 9 , 72 – 4 , 76 ; termination on fraud 67 – 9 contracting out 94 – 106 ; analysis of provisions on 97 – 105 ; blanket clauses 103 – 4 ; disadvantageous term 99 ; disputes 104 ; effect of term 103 ; exclusion clauses 98 ; hostility towards 04; “in a worse position” 97 ; Insurance Act, of 36 ; late payment of claims, and 92 – 3 ; philosophy behind provisions 95 – 6 ; provisions on 97 ; remedies 101 – 2 ; restrictions 96 ; sophisticated markets 99 ; standard clauses 99 – 100 ; transparency requirements 98 ; warranties 104 damages: fraudulent claims, and 69 – 71 , 74 ; late payment, and 88 – 91 deceit: tort of 40 disclosure: assured’s, manner of 30 ; broker’s duty of 30 – 1 ; duty of 8 ; exceptions 17 – 20 ; Insurance Act, under 112 – 13 ; lack of good faith, and 108 ; limitations 113 – 14 ; utmost good faith, and 15 – 17 Disputed claims: late payment, and 86 – 8 Enterprise Act 10 exclusion clauses 98 fair presentation 8 – 9 , 28 – 36 ; assured’s duty 28 – 9 ; assured’s knowledge 31 – 3 ; broker’s duty of disclosure 30 – 1 ; contracting out 36 ; fundamental changes 30 – 6 ; good faith, and 112 ; insurer’s knowledge 33 – 4 ; jejune presentation 113 ; manner of assured’s disclosure 30 ; remedies 34 – 6 , 115 – 16 ; warranties, and 117 Financial Ombudsman Service (FOS) 3 fraud 9 ; fraudulent claims 9 – 10 see also fraudulent claims fraudulent claims 9 – 10 , 60 – 77 ; bad faith 61 ; damages for 69 – 71 , 74 ; effect of fraud on claim 63 – 4 , 71 – 2 , 74 – 6 ; effect of fraud on contract 65 – 9 , 72 – 4 , 76 ; fraudulent device, whether 121 ; Insurance Act provisions 71 – 4 ; law reform 62 ; MIA 1906, under 61 ; pre-Insurance Act 63 – 71 ; remedies, pre-Insurance Act 63 – 71 ; uberrimae fidei 60 good faith, duty of 38 – 53 ; caveat emptor , and 111 – 12 ; fair presentation, and 112 ; insurer obligations and 46 – 8 ; insurer post-contractual duty 46 – 52 ; insurer pre-contractual duty 39 – 46 ; insurer’s rights and 49 – 52 ; introduction of doctrine 107 – 8 ; Page 170 materiality test 44 – 5 ; mutual obligation 45 ; pre-contractual disclosure 110 – 11 ; scope of duty 43 , 44 ; utmost see utmost good faith inducement: utmost good faith, and 23 – 4 insurance: British export, as 1 ; law of 1 – 2 ; range of products 3 Insurance Act 2015 1 – 11 ; background 1 – 11 ; broad principles 109 – 10 ; commercial risks under 12 – 37 see also Commercial risks; contracting out of 36 , 94 – 106 see also Contracting out; default scheme, as 10 ; definitions 114 ; disclosure duty 8 ; duty of fair presentation 8 – 9 , 28 – 36 see also Fair presentation; fraud 9 ; fraudulent claims 71 – 4 see also Fraudulent claims; history 1 – 3 ; information technology, and 114 ; new duties 7 – 8 ; non-revolutionary, as 122 ; “readily available” information 114 – 15 ; scope 7 ; section 12 , impact 74 – 6 ; tests under 109 ; text of 149 – 67 ; utmost good faith 27 – 8 ; warranties 9 , 55 – 7 Insurance Ombudsman Bureau (IOB) 3 Jurisprudence: MIA 1906, and 107 late payment 78 – 93 ; common law 78 – 81 ; contracting out 92 – 3 ; contracting out of implied term 82 – 3 ; damages 88 – 91 ; disputed claims 86 – 8 ; implied duty to pay on time 83 – 4 ; liability in damages 91 – 2 ; payment, implied term 82 ; reasonable time, obligation 84 – 6 ; reforms 81 – 93 Law Commission 4 – 5 ; contracting out, and 94 ; fraudulent claims 60 , 62 ; late payment consultation 10 ; reform proposals 4 – 5 ; warranties, and 119 liability in damages: independent nature of 91 – 2 Lloyds Marketing Association (LMA) 95 Mansfield, Lord 107 Marine Insurance Act 1906 1 , 123 – 48 ; codification, as 107 ; disclosure duty 8 ; drafting 3 ; fraudulent claims 61 ; text of 123 – 48 ; utmost good faith under 13 – 14 materiality: scope 42 ; test for 44 – 5 ; utmost good faith, and 21 – 3 misrepresentation 20 – 1 ; avoidance, and 25 – 6 ; formation stage, at 39 – 40 Misrepresentation Act 1967 40 remedies: breach of warranties 58 ; contracting out, and 101 – 2 ; damages 69 – 71 , 74 ; defining 117 – 18 ; fair presentation 34 –6115– 16 ; fraudulent claims, law on 63 – 71 see also fraudulent claims; nature of breach, and 116 ; test for 118 – 19 ; utmost good faith 24 – 6 SMEs: contracting out, and 94 sophisticated insurance: contracting out, and 95 standard clauses: contracting out, and 99 – 100 super-warranty 120 termination: fraudulent claims, and 67 – 9 Third Parties (Rights against Insurers) Act 2010 5 – 6 Transparency: contracting out, and 98 United Kingdom: consumer activity 2 – 3 ; insurance law 2 uberrimae fidei 60 utmost good faith 13 – 26 , 27 – 8 ; amendments to contract 26 ; disclosure under 15 – 17 ; duty of 13 – 26 ; MIA 1906, under 13 – 14 ; exceptions to disclosure duty 17 – 20 ; inducement 23 – 4 ; Insurance Act modifications 110 ; materiality 21 – 3 ; misrepresentation 20 – 1 ; remedies 24 – 6 ; variations of contract 26 variation: insurance contract 26 Warranties 9 , 54 – 9 ; breach of warranty 57 – 8 ; common law 54 – 5 ; contracting out, and 104 ; defining 108 – 9 ; defining risk, and 120 ; fair presentation, and 117 ; other contracts distinguished 117 ; super-warranty 120 ; time specific 118 ;

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