The Insurance Act 2015 comes into force on 12 August 2016. It is the first piece of legislation in the history of insurance to introduce wide-ranging changes to the law, and is the result of the work of the English and Scottish Law Commissions over a ten-year period starting in 2006.
The Insurance Act 2015 has repealed and replaced concepts dating back to the eighteenth century applicable to the placement of the risk and to the consequences of breach of policy terms.
Main features:-
- The 2nd Supplement was published in October 2018
- The 1st Supplement was published in October 2017
- The Main Work was published in August 2016
- Comprehensive overview of the essential principles of insurance law in the United Kingdom.
- Analyses three distinct areas: insurance contracts, the parties involved, and special types of insurance.
- Explains the core components of insurance contract law including risk, utmost good faith, premiums, claims, and loss.
- Detailed commentary on the construction of insurance policies and the rules governing wording and phrasing.
- Examines nine special types of insurance including life and accident, liability, property, motor vehicle, financial, marine, and war risk.
The new edition of
Colinvaux comprehensively examines the new law in detail, with significant changes to the following chapters:
- A brand new chapter on the duty of fair presentation
- The chapter on conditions and warranties has been rewritten to take account of the important new restrictions on the enforcement of warranties and risk clauses
- The chapter on claims discusses the new principles applicable to the remedies for fraudulent claims
- Other chapters have been updated to reflect the changes introduced by the Insurance Act 2015
In addition to these substantial changes, the remaining text of Colinvaux has been updated to take account of other major developments, including:
- The proposals in the Enterprise Bill 2016 to introduce a right to damages for the late payment of insurance claims
- The introduction of the Brussels Regulation Recast, affecting jurisdictional rules for claims with an EU dimension
- Litigation in New Zealand following the Canterbury earthquakes, relating to many aspects of loss measurement and reinstatement issues
- Major changes to the law of motor insurance by the modification of requirements for the issue of a certificate of insurance and the new Motor Insurers Bureau Agreement on Uninsured Drivers
- The UK’s implementation of the Solvency 2 regulatory regime
- Recent decisions on almost every aspect of insurance law, including aggregation of losses, the duties of brokers, the making of claims under liability policies, the coverage of marine policies, subrogation, contribution and the effect of illegality on insurance claims
