
From today, 4th May 2017, the Enterprise Act 2016 (“the Act”) comes into force in the UK. All insurance policies that are issued, or renewed, from today and that are subject to English law and practice will be subject to the…
The marine insurance sector is undergoing a period of change. We need to ensure we fully understand the risks our industry is facing and offer products that match these new trends and deliver adequate cover needed.
Marine insurance is one of indemnity, therefore the Insured is to be placed in the same financial position they were in prior to the loss. They cannot therefore claim for the same loss under their global programme. Depending upon the language of the policy, it is likely the Insured is covered on a contingent basis (i.e. buyers or sellers….