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All types of insurance risk located in the UK are taxable unless they are specifically exempted. Exemptions from this tax include: [5] reinsurance; life insurance, permanent-health insurance and all other ‘long term’ insurance, except health insurance; commercial aircraft and some associated liabilities; commercial ships and some associated ...
In 1930, the UK Government introduced a law that required every person who used a vehicle on the road to have at least third-party personal injury insurance. Today, this law is contained in the Road Traffic Act 1988 (generally referred to as the RTA 1988 as amended).
Marine insurance traditionally formed the majority of business underwritten at Lloyd's. Nowadays, Marine insurance is often grouped with Aviation and Transit (cargo) risks, and in this form is known by the acronym 'MAT'. It is common for marine insurance agencies to compete with the offerings provided by local insurers.
Home insurance: Home insurance protects a house and its contents. Marine insurance: Marine insurance covers goods, freight, cargo, and other interests against loss or damage during transit by rail, road, sea and/or air. Commercial insurance: Commercial insurance encompasses solutions for all sectors of the industry arising out of business ...
The Royal Sun Alliance Insurance Company (which, as Sun Alliance, was the insurer for Sheffield Wednesday Football Club in 1989) refused to waive its entitlement to privilege, thus denying the Hillsborough Independent Panel access to its material. Strenuous efforts were made to persuade the company to allow the Panel confidential access to the ...
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In April 2013 US private equity company Aquiline Capital Partners purchased Equity Insurance Group from IAG for £80 million. This led to the sale of EDBL and its personal accident and household business to Canopius. In April 2014, Equity Insurance Group rebranded to ERS and became a "motor only, broker only" insurer.
The Motor Insurers' Bureau (MIB) was founded in the UK in 1946 as a private company limited by guarantee and is the mechanism in the UK through which compensation is provided for victims of accidents caused by uninsured and untraced drivers, which is funded by an estimated £30 a year from every insured driver's premiums.