Law Of Life Assurance

Below is a selection of our most recent updates on this subject.

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Insurance Contract Law Reform - New Consultation

On 20 December 2011 the Law Commission of England and Wales and the Scottish Law jointly issued a new consultation paper entitled: Insurance Contract Law: Post Contract Duties and other Issues.
Thursday, January 19, 2012

New Compensation Limits For Investors Etc

On 1 January 2010 some of the compensation limits for investment, insurance and home finance intermediation claims changed
Friday, January 08, 2010

ABI Launches Actuarial Guidance

ABI launches actuarial guidance on best practice for life insurers.
Friday, December 11, 2009

Jointly Owned Property And The Bankruptcy Of One Joint Owner

The recent case of French v Barcham [2008] (EWHC1505) (Ch) considered whether a trustee in bankruptcy is entitled, on the sale of the property after the bankruptcy of one joint owner, to compensation in respect of 'rent' from the spouse who remained in occupation.
Tuesday, November 18, 2008

Powers Of Attorney - New Public Guardian Appointed

A new chief executive has taken over at the Office of the Public Guardian and is to be given extra resources to speed up the office's processing of Lasting Powers of Attorney.
Friday, June 20, 2008

Insurable Interest And The Review Of Insurance Contract Law - Revised

The Law Commission and Scottish Law Commission have published a discussion paper (Issues Paper 4) on insurable interest
Wednesday, January 23, 2008

Review Of Insurance Contract Law - New Consultation Paper

On 17 July 2007 the Law Commission and the Scottish Law Commission jointly published a consultation paper on insurance contract law. The paper deals with matters of non-disclosure, warranties and pre-contract information. Insurable interest is to be covered in a future paper.
Wednesday, August 01, 2007

Review Of The Law On Insurable Interest

The English and Scottish Law Commissions are conducting a joint review of insurance contract law. This is an update on the current position
Thursday, July 05, 2007

Law Commissions Review Insurance Contract Law / Insurable Interest

The Law Commission for England and Wales and the Scottish Law Commission issued a scoping paper and press release on 18 January 2006. They are seeking views by 19 April 2006 from the industry and consumer groups on areas that deserve scrutiny. Archaic insurance laws could be revamped to stop some insurers trying to avoid pay-outs on technicalities. Although the whole of insurance law is being reviewed this bulletin focuses on the law of life assurance. While it is true that the base rules regarding insurable interest are enshrined in the Life Assurance Act 1774, life assurance companies have moved with the times. For example, some companies have dispensed with the need for insurable interest to be proved in connection with single premium bonds which provide only minimal life cover. Other companies, for example, recognise insurable interest between a couple engaged to be married. Any review of the law in this area is to be welcomed as it would offer the opportunity for the rules to be updated which should make for consistency.
Wednesday, February 15, 2006

Nature Of Joint Life Policy - Important Court Of Appeal Ruling

The Court of Appeal ruling in Murphy -v- Murphy and Others (2003) EWCA Civ 862 is extremely important for life assurance companies and policyholders alike. This concerned a joint life first death term assurance policy providing death and terminal illness benefits and the issue was whether the deceased was, immediately before his death, beneficially entitled to a joint tenancy of the right to death benefits under the policy.
Wednesday, March 31, 2004

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