As part of the ongoing review of insurance contract law, the English and Scottish Law Commissions have published Issues Papers inviting consultation on whether the current law governing the insured's post-contract duty of good faith, in particular in the context of fraudulent claims, and the broker's liability for premium in the marine market should be reformed.
The Issues Papers identify concerns with the position under the current law and tentatively put forward proposals for reform. The Law Commissions have invited responses to the Issues Papers by interested parties (by 11 October 2010 on the insured's post-contract duty of good faith and 19 October 2010 on the broker's liability for premiums).
For more detail on the Law Commissions' proposals:
- On fraudulent claims click here
- On the broker's liability for premium click here
The Law Commissions have indicated that a further Issues Paper will be published later this year (on whether reform is needed to allow marine insurance to be concluded electronically) and that they will publish a second full Consultation Paper in 2011. The Law Commissions' first Consultation Paper (on misrepresentation, non-disclosure and breach of warranty) was published in July 2007. For more detail on the 2007 Consultation Paper click here and on the draft Bill to reform consumer insurance law click here.
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 23/07/2010.
