Compendium of Insurance Law

Description

The Compendium of Insurance Law consolidates diverse insurance law sources, statutes and codes of practice in one comprehensive volume. Each piece of legislation is supplemented by detailed annotations, which explain the operation and relationship of the legislation with other sources of insurance law. The book is filled with comprehensive coverage of legislation relating to the following areas: regulation, reinsurance, life assurance, property insurance, marine insurance, liability insurance, motor insurance, insurance intermediaries, insurance contracts and competition. Cover Title Copyright Preface Contents Table of Cases CHAPTER ONE—REGULATION OF INSURERS Domestic Law The Impact of the EC Lloyd's Act 1871 Lloyd's Act 1888 Lloyd's Signal Stations Act 1888 Lloyd's Act 1911 Lloyd's Act 1925 Lloyd's Act 1951 Friendly Societies Act 1974 Lloyd's Act 1982 Friendly Societies Act 1992 Disability Discrimination Act 1995 Financial Services and Markets Act 2000 Part I The Regulator Part II Regulated and Prohibited Activities Part III Authorisation and Exemption Part IV Permission to Carry on Regulated Activities Part V Performance of Regulated Activities Part VII Control of Business Transfers Part IX Hearings and Appeals Part X Rules and Guidance Part XI Information Gathering and Investigations Part XII Control Over Authorised Persons Part XIII Incoming Firms: Intervention by Authority Part XIV Disciplinary Measures Part XV The Financial Services Compensation Scheme Part XVI The Ombudsman Scheme Part XIX Lloyd's Part XXI Mutual Societies Part XXII Auditors and Actuaries Part XXIII Public Record, Disclosure of Information and Co-operation Part XXIV Insolvency Part XXV Injunctions and Restitution Part XXVI Notices Part XXVII Offences Part XXVIII Miscellaneous Part XXIX Interpretation Part XXX Supplemental Schedule 1 The Financial Services Authority Schedule 2 Regulated Activities Schedule 3 EEA Passport Rights Schedule 4 Treaty Rights Schedule 6 Threshold Conditions Schedule 12 Transfer Schemes: Certificates Schedule 13 The Financial Services and Markets Tribunal Schedule 15 Information and Investigations: Connected Persons Schedule 17 The Ombudsman Scheme Schedule 18 Mutuals Insurance (Lloyd's) Regulations 1983 Insurance (Lloyd's) Regulations 1996 Insurance (Lloyd's) Regulations 1997 The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001 No 544) The Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 (SI 2001 No 1177) The Financial Services and Markets Act 2000 (Exemption) Order 2001 (SI 2001 No 1201) The Financial Services and Markets Act 2000 (Variation of Threshold Conditions) Order 2001 (SI 2001 No 2507) The Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001 (SI 2001 No 2509) The Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001 (SI 2001 No 2511) The Financial Services and Markets Act 2000 (Insolvency) (Definition of "Insurer") Order 2001 (SI 2001 No 2634) Financial Services and Markets Act 2000 (Treatment of Assets of Insurers on Winding Up) Regulations 2001 (SI 2001 No 2968) The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2001 (SI 2001 No 3623) The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001 (SI 2001 No 3625) The Financial Services and Markets Act 2000 (Control of Transfers of Business Done at Lloyd's) Order 2001 (SI 2001 No 3626) The Insurers (Winding Up) Rules 2001 (SI 2001 No 3635) The Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) Order 2002 (SI 2002 No 1242) The Financial Services and Markets Act 2000 (Variation of Threshold Conditions) Order 2002 (SI 2002 No 2707) The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2003 (SI 2003 No 47) The Insurers (Reorganisation and Winding Up) Regulations 2003 (SI 2003 No 1102) The Financial Services and Markets Act 2000 (Exemption) (Amendment) (No 2) Order 2003 (SI 2003 No 1675) The Insurers (Reorganisation and Winding Up) Regulations 2004 (SI 2004 No 353) The Financial Conglomerates and Other Financial Groups Regulations 2004 (SI 2004 No 1862) The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2005 (2005 No 592) The Financial Services and Markets Act 2000 (Variation of Threshold Conditions) (Amendment) Order 2005 (SI 2005 No 680) The Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) (Amendment) Order 2005 (SI 2005 No 922) The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005 (SI 2005 No 1998) The Disability Discrimination (Service Providers and Public Authorities Carrying Out Functions) Regulations 2005 (SI 2005 No 2901) The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2007 (SI 2007 No 125) First Council Directive of 24 July 1973 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct insurance other than life assurance (73/239/EEC) Council Directive of 24 July 1973 abolishing restrictions on freedom of establishment in the business of direct insurance other than life assurance (73/240/EEC) Council Directive 76/580/EEC of 29 June 1976 amending Directive 73/239/EEC on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct insurance other than life assurance Council Directive of 30 May 1978 on the coordination of laws, regulations and administrative provisions relating to Community co-insurance (78/473/EEC) Council Directive of 10 December 1984 amending, particularly as regards tourist assistance, the First Directive 73/239/EEC on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance (84/641/EEC) Council Directive of 22 June 1987 on the coordination of laws, regulations and administrative provisions relating to legal expenses insurance (87/344/EEC) Second Council Directive of 22 June 1988 on the coordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance and laying down provisions to facilitate the effective exercise of freedom to provide services and amending Directive 73/239/EEC (88/357/EEC) Third Council Directive of 18 June 1992 on the coordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance and amending Directives 73/239/EEC and 88/357/EEC (third non-life insurance Directive) (92/49/EEC) Directive 98/78/EC of the European Parliament and of the Council of 27 October 1998 on the supplementary supervision of insurance and reinsurance undertakings in an insurance or reinsurance group Directive 2001/17/EC of the European Parliament and of the Council of 19 March 2001 on the reorganisation and winding-up of insurance undertakings Directive 2002/13/EC of the European Parliament and of the Council of 5 March 2002 amending Council Directive 73/239/EEC as regards the solvency margin requirements for non-life insurance undertakings Directive 2007/44/EC of the European Parliament and of the Council of 5 September 2007 amending Council Directive 92/49/EEC and Directives 2002/83/EC, 2004/39/EC, 2005/68/EC and 2006/48/EC as regards procedural rules and evaluation criteria for the prudential assessment of acquisitions and increase of holdings in the financial sector CHAPTER TWO—REINSURANCE Overview Council Directive 64/225/EEC of 25 February 1964 on the Abolition of Restrictions on Freedom of Establishment and Freedom to Provide Services in Respect of Reinsurance and Retrocession Directive 2005/68/EC of the European Parliament and of the Council of 16 November 2005 on Reinsurance and Amending Council Directives 73/239/EEC, 92/49/EEC as well as Directives 98/78/EC and 2002/83/EC CHAPTER THREE—LIFE ASSURANCE Overview Insurable Interest Life Assurance Act 1774 Policies of Assurance Act 1867 Married Women's Property Act 1882 Life Assurance Companies (Payment into Court) Act 1896 Insurance Companies Amendment Act 1973 Income and Corporation Taxes Act 1988 Civil Procedure Rules, Practice Direction 37 The Life Assurance and Other Policies (Keeping of Information and Duties of Insurers) Regulations 1997 (SI 1997 No 265) The Life Assurance Consolidation Directive (Consequential Amendments) Regulations 2004 SI 2004 No 3379 Directive 2002/83/EC of the European Parliament and of the Council of 5 November 2002 concerning life assurance CHAPTER FOUR—PROPERTY INSURANCE Insurable Interest Rights of Third Parties Recovery for Riot Damage Insurance in Time of War Fires Prevention (Metropolis) Act 1774 Marine Insurance Act 1788 Riot (Damages) Act 1886 Law of Property Act 1925 Restriction of Advertisement (War Risks Insurance) Act 1939 Liability For War Damage (Miscellaneous Provisions) Act 1939 Landlord And Tenant Act 1985 Reinsurance (Acts Of Terrorism) Act 1993 Gambling Act 2005 CHAPTER FIVE—MARINE INSURANCE Marine Insurance Act 1906 Marine Insurance (Gambling Policies) Act 1909 Marine and Aviation Insurance (War Risks) Act 1952 Public Order Act 1986 CHAPTER SIX—LIABILITY INSURANCE Overview Third Parties (Rights Against Insurers) Act 1930 Riding Establishments Act 1964 Nuclear Installations Act 1965 Employers' Liability (Compulsory Insurance) Act 1969 Solicitors Act 1974 Estate Agents Act 1979 Supreme Court Act 1981 Merchant Shipping Act 1995 Merchant Shipping And Maritime Security Act 1997 Health and Social Care (Community Health and Standards) Act 2003 Merchant Shipping (Pollution) Act 2006 Companies Act 2006 Employers' Liability (Compulsory Insurance) General Regulations 1971 (SI 1971 No 1117) Employers' Liability (Compulsory Insurance) Exemption Regulations 1971 (SI 1971 No 1933) Employers' Liability (Compulsory Insurance) (Amendment) Regulations 1974 (SI 1974 No 208) Employers' Liability (Compulsory Insurance) (Amendment) Regulations 1975 (SI 1975 No 194) Offshore Installations (Application of the Employers' Liability (Compulsory Insurance) Act 1969) Regulations 1975 (SI 1975 No 1289) Employers' Liability (Compulsory Insurance) (Offshore Installations) Regulations 1975 (SI 1975 No 1443) Oil Pollution (Compulsory Insurance) Regulations 1981 (SI 1981 No 912) Employers' Liability (Compulsory Insurance) (Amendment) Regulations 1981 (SI 1981 No 1489) Oil Pollution (Compulsory Insurance) (Amendment) Regulations 1982 (SI 1982 No 287) Oil Pollution (Compulsory Insurance) (Amendment No 2) Regulations 1990 (SI 1990 No 2345) Employers' Liability (Compulsory Insurance) (Amendment) Regulations 1992 (SI 1992 No 3172) Employers' Liability (Compulsory Insurance) Exemption (Amendment) Regulations 1994 (SI 1994 No 520) Employers' Liability (Compulsory Insurance) (Amendment) Regulations 1994 (SI 1994 No 3301) Offshore Installations and Pipeline Works (Management and Administration) Regulations 1995 (SI 1995 No 738) Oil Pollution (Compulsory Insurance) Regulations 1997 (SI 1997 No 1820) Employers' Liability (Compulsory Insurance) Regulations 1998 (SI 1998 No 2573) General Osteopathic Council (Professional Indemnity Insurance Rules) Order of Council 1998 (SI 1998 No 1329) Merchant Shipping (Oil Pollution) (Supplementary Fund Protocol) Order 2006 (SI 2006 No 1265) Personal Injuries (NHS) Charges (General) and Road Traffic (NHS Charges) (Amendment) Regulations 2006 (SI 2006 No 3388) Personal Injuries (NHS Charges) (Reviews And Appeals) and Road Traffic (NHS Charges) (Reviews and Appeals) (Amendment) Regulations 2006 (SI 2006 No 3398) CHAPTER SEVEN—MOTOR VEHICLE INSURANCE Compulsory Insurance Under Domestic Law Compulsory Insurance in the EU The Single Market for Insurance Services Road Traffic Act 1988 Motor Vehicles (International Motor Insurance Card) Regulations 1971 (SI 1971 No 792) Motor Vehicles (Third Party) Risks Regulations 1972 (SI 1972 No 1217) Motor Vehicles (Compulsory Insurance) (No 2) Regulations 1973 (SI 1973 No 2143) Motor Vehicles (Compulsory Insurance) Regulations 1992 (SI 1992 No 3036) Motor Vehicles (Third-Party Risk Deposit) Regulations 1992 (SI 1992 No 1284) Motor Vehicles (Third Party Risks) (Amendment) Regulations 1997 (SI 1997 No 97) Motor Vehicles (Third Party Risks) (Amendment) Regulations 1999 (SI 1999 No 2392) Motor Vehicles (Third Party Risks) (Amendment) Regulations 2001 (SI 2001 No 2266) Financial Services and Markets Act 2000 (Fourth Motor Insurance Directive) Regulations 2002 (SI 2002 No 2706) European Communities (Rights Against Insurers) Regulations 2002 (SI 2002 No 3061) Motor Vehicles (Compulsory Insurance) (Information Centre and Compensation Body) Regulations 2003 (SI 2003 No 37) Motor Vehicles (Compulsory Insurance) Regulations 2007 (SI 2007 No 1426) Financial Services and Markets Act 2000 (Motor Insurance) Regulations 2007 (SI 2007 No 2403) Motor Insurers' Bureau Agreement on the Compensation of Victims of Uninsured Drivers (13 August 1999) Motor Insurers' Bureau Article 75 Regulations Motor Insurers Bureau Agreement on the Compensation of Victims of Untraced Drivers (7 February 2003) Council Directive of 24 April 1972 on the Approximation of the Laws of the Member States Relating to Insurance Against Civil Liability in Respect of the Use of Motor Vehicles, and to the Enforcement of the Obligation to Insure Against Such Liability—The First Motor Insurance Directive (72/166/EEC) Council Directive of 19 December 1972 Amending Council Directive 72/166 of 24 April 1972 on the Approximation of the Laws of the Member States Relating to Insurance Against Civil Liability in Respect of the Use of Motor Vehicles and to the Enforcement of the Obligation to Insure Against Such Liability (72/430/EEC) Council Directive of 30 December 1983 on the Approximation of the Laws of the Member States Relating to Insurance Against Civil Liability in Respect of the Use of Motor Vehicles—The Second Motor Insurance Directive (84/5/EEC) Council Directive of 14 May 1990 on the Approximation of the Laws of the Member States Relating to Insurance Against Civil Liability in Respect of the Use of Motor Vehicles—Third Motor Insurance Directive (90/232/EEC) Council Directive of 8 November 1990 Amending, Particularly as Regards Motor Vehicle Liability Insurance, Directive 73/239/EEC and Directive 88/357/EEC Which Concern the Co-Ordination of Laws, Regulations and Administrative Provisions Relating to Direct Insurance Other Than Life Assurance (90/618/EEC) European Parliament and Council Directive of 16 May 2000 on the Approximation of the Laws of the Member States Relating to Insurance Against Civil Liability in Respect of the Use of Motor Vehicles and Amending Council Directives 73/239/EEC And 88/357/EEC—The Fourth Motor Insurance Directive (2002/26/EC) European Parliament and Council Directive of 11 May 2005 Amending Council Directives 71/266/EEC, 85/5/EEC, 88/357/EEC and 90/232/EEC, and European Parliament and Council Directive 2000/26/EC Relating to Insurance Against Civil Liability in Respect of the Use of Motor Vehicles—The Fifth Motor Insurance Directive (2005/14/EC) Commission Decision of 28 July 2003 on the Application of Council Directive 71/266/EEC Relating to Checks on Insurance Against Civil Liability in Respect of Motor Vehicles (Commission Decision 2003/564/EC) CHAPTER EIGHT—INSURANCE INTERMEDIARIES Classes of Insurance Intermediary Intermediaries and the Common Law Regulation of Intermediaries Financial Services and Markets Act 2000 Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001 (SI 2001 No 1217) Insurance Mediation Directive (Miscellaneous Amendments) Regulations 2003 (SI 2003 No 1473) Financial Services and Markets Act 2000 (Regulated Activities) Amendment (No 2) Order 2003 (SI 2003 No 1476) Directive 2002/92/EC of the European Parliament and of the Council of 9 December 2002 on Insurance Mediation ([2003] OJ L3) CHAPTER NINE—INSURANCE CONTRACTS Sources of Insurance Law Consumer Protection International Aspects of Insurance Law Law of Property Act 1925 Rehabilitation of Offenders Act 1974 Limitation Act 1980 Supreme Court Act 1981 Forfeiture Act 1982 Civil Jurisdiction and Judgments Act 1982 Access to Medical Reports Act 1988 Contracts (Applicable Law) Act 1990 The Rome Convention on the Law Applicable to Contractual Obligations Financial Services and Markets Act 2000 (Law Applicable to Contracts of Insurance) Regulations 2001 (SI 2001 No 2635) Council Regulation No 44/2001 on the Recognition and Enforcement of Judgments in Civil and Commercial Matters Statement of Long-Term Insurance Practice 1986 Civil Procedure Rules 1999 CHAPTER TEN—COMPETITION Overview Council Regulation (EEC) No 1534/91 of 31 May 1991 on the Application of Article 85(3) of the Treaty to Certain Categories of Agreements, Decisions and Concerted Practices in The Insurance Sector Commission Regulation (EC) No 358/2005 of 27 February 2003 on the Application of Article 81(3) of the Treaty to Certain Categories of Agreements, Decisions and Concerted Practices in the Insurance Sector Index