In our series “Elvis blogs the Insurance Act” we considered some of the issues that arose as Insurance Act compliant policies were formally incepted on 12 August, renewals took place or variations to existing policies were applied.
We concentrated solely on the Insurance Act but to do so ignores some other aspects of the Law Commissions’ programme of reform of insurance law that we should address and a couple of areas of concern which arise from the “entrepreneurship” of the claims management sector.
A trio of Acts stem from the Law Commission’s work to reform insurance contract law. The two very familiar ones are CIDRA – The Consumer Insurance (Disclosure and Representations) Act 2012 – and the Insurance Act 2015. Our RED campaign has provided a great deal of material and insight about the latter. The third is the Third Party (Rights Against Insurers) Act 2010. It has not yet been brought into force despite securing Royal Assent in 25 March 2010 (i.e. in the last weeks of Gordon Brown’s premiership). However, new regulations have finally emerged to take matters forward.