Search results
Results from the WOW.Com Content Network
The Insurance Act 2015 (c. 4) is a United Kingdom act of Parliament which makes significant reforms to insurance law. [1] It came into effect on 12 August 2016, [ 2 ] and follows on from the Consumer Insurance (Disclosure and Representations) Act 2012 ("CIDRA").
The Consumer Insurance (Disclosure and Representations) Act 2012 (c.6) [1] is a UK Act of Parliament that makes important reforms to insurance law. The Act was a consequence of the Law Commission 's millennium review of the law of insurance that has been ongoing since 2006.
The most important sections of this Act include: s.4: a policy without insurable interest is void. s.17: imposes a duty on the insured of uberrimae fides (as opposed to caveat emptor); i.e. that questions must be answered honestly and the risk not misrepresented.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
The law deals with a great variety of subjects, such as tobacco price supports, railroads, private pension plans, emergency department treatment, disability insurance, and the postal service, but it is perhaps best known for Title X, which amends the Internal Revenue Code and the Public Health Service Act to deny income tax deductions to ...
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
This page was last edited on 3 September 2019, at 18:42 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.