Modern Law Review · 2015 · 15 citations · 1 references
BusinessContract LawInsuranceContractsInsurance LawInsurance RegulationInsurance CompaniesInsurance Contract DesignInsurance ContractsInsurance PolicyInsurance SupervisionPolicy IssuanceConditions In Insurance ContractsFraudulent ClaimsInsurance Contract FormationInsurance Contract TheoryInsurance Law HistoryInsurance RelationshipInsured Cooperation DutiesUnderwriting Policy Terms
The I nsurance A ct 2015 is the first piece of legislation since the eighteenth century to seek to lay down new principles governing the formation and operation of insurance contracts. Exactly 250 years after L ord M ansfield articulated the routinely‐cited principle of utmost good faith in insurance law in C arter v B oehm (1766) 2 Burr 1905, that principle has been recast, with important implications for both the pre‐ and post‐contractual duties of the parties. The I nsurance A ct has also imposed important restrictions on the enforcement of policy terms by insurers, and clarifies the law affecting fraudulent claims. The M arine I nsurance A ct 1906, a codifying measure, looks increasingly outmoded.
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