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Legislation

There are only limited statutes of significance to insurers in the United Kingdom.  As a useful resource tool for research we have included a list of the main sources of insurance law in the United Kingdom.

We have included links in this page to legislation publicly available on legislation.gov.uk.

We will update these pages when there are significant developments to the legislation.

The Marine Insurance Act 1906

The Marine Insurance Act 1906 (MIA) is the main piece of legislation governing marine insurance law.  MIA is also applicable to non-marine contracts in a number of areas, in particularly in relation to the duty of good faith and insurance warranties.

Third Party (Rights Against Insurers) Act 1930

The Third Party (Rights Against Insurers) Act 1930 confers upon third parties the right to claim against an insolvent insured’s insurers thereby removing insurance claims from pool of creditors.  In effect, the third party is given the rights under the policy of the insolvent insured.  

Third Party (Rights Against Insurers) Act 2010

The Third Party (Rights Against Insurers) Act 2010 updates the 1930 Act. 

Financial Services and Markets Act 2000

The Financial Services and Markets Act 2000 (FSMA) governs the regulation of all financial services in the United Kingdom.  Both insurers and intermediaries are regulated in accordance with FSMA.  Key provisions include the general prohibition against carrying on a regulated activity without permission, what financial services activities are required to be regulated, rules concerning financial promotions, the process for transferring insurance business, regulatory rule making powers and controlled functions in firms.

Enterprise Act 2016

An Act to make provision relating to the promotion of enterprise and economic growth; provision about Sunday working; and provision restricting exit payments in relation to public sector employment.

Lloyd’s Act 1982

The Lloyd’s Act established the Council of Lloyd’s and sets out various powers and functions of the Council.  

Life Assurance Act 1774

The Life Assurance Act 1744 (LAA) was enforced to tackle what was at the time widespread gambling on lives. The LLA now specifies that no insurance can be taken out on the life of a person without interest.  Further it specifies that the name of the life assured should be included in the policy and that the insured should recover no more than the value of their interest.  The LAA specifies that a policy where there is no interest is void.  

Fires Prevention (Metropolis) Act 1774

The Fires Prevention (Metropolis) Act 1774 (FPMA) provides a statutory form of reinstatement.  Where fraud or arson is suspected on the part of the insured, a person interested (for example a tenant of property destroyed by fire) can require the insurer to reinstate property regardless of whether the person is party to the insurance contract.

Consumer Insurance (Disclosure and Representations) Act 2012

The Consumer Insurance (Disclosure and Representations) Act 2012 introduces a consumer regime governing pre-contractual misrepresentations in insurance contracts. 

Insurance Act 2015

An Act to make new provision about insurance contracts; to amend the Third Parties (Rights against Insurers) Act 2010 in relation to the insured persons to whom that Act applies; and for connected purposes.