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Consumer Insurance (Disclosure And Representations) Act 2012
The Consumer Insurance (Disclosure and Representations) Act 2012 (c.6) is a UK Act of Parliament that makes important reforms to insurance law. The Act was a consequence of the Law Commission's millennium review of the law of insurance that has been ongoing since 2006. The review examined insurance in general, and of marine insurance in particular. The new legislation is a response to a consensus that the Marine Insurance Act 1906 is old-fashioned, it no longer represents current practice, and it undermines the continuing dominant position of English Insurance in the global market. The Act has since been complemented by the Insurance Act 2015; and both of these modern Acts have significantly amended the Marine Insurance Act 1906, particularly in the area of misrepresentation and disclosure. The Act's provisions The Consumer Insurance (Disclosure and Representations) Act 2012 makes provisions as follows: * Section 1 creates the concept of "consumer" and "non-consumer" in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Commission
A law commission, law reform commission, or law revision commission is an independent body set up by a government to conduct law reform; that is, to consider the state of laws in a jurisdiction and make recommendations or proposals for legal changes or restructuring. The first term is prevalent in the United Kingdom, the second is prevalent in the Commonwealth, and the third one is prevalent in the United States. Work The functions of a law commission body include drafting revised versions of confusing laws, preparing consolidated versions of laws, making recommendations on updating outdated laws and making recommendations on repealing obsolete or spent laws. Law commissions often undertake projects focusing on legislation, although their mandates may be narrower or broader. List of law commissions *: Australian Law Reform Commission *: the Law Commission of Canada was established by the Law Commission of Canada Act on July 1, 1997 and was eliminated in 2006. It replaced the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marine Insurance
Marine insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though Marine insurance also includes Onshore and Offshore exposed property, ( container terminals, ports, oil platforms, pipelines), Hull, Marine Casualty, and Marine Liability. When goods are transported by mail or courier or related post, shipping insurance is used instead. History In December 1901 and January 1902, at the direction of archaeologist Jacques de Morgan, Father Jean-Vincent Scheil, OP found a 2.25 meter (or 88.5 inch) tall basalt or diorite stele in three pieces inscribed with 4,130 lines of cuneiform law dictated by Hammurabi (c. 1792–1750 BC) of the First Babylonian Empire in the city of Shush, Iran. Code of Hammurabi Law 100 stipulated repayment by a debtor of a loan to a creditor on a sche ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marine Insurance Act 1906
The Marine Insurance Act 1906 (8 Edw. 7 c.41) is a UK Act of Parliament regulating marine insurance. The Act applies both to "ship & cargo" marine insurance, and to P&I cover. The Act was drafted by Sir Mackenzie Dalzell Chalmers, who had earlier drafted the Sale of Goods Act 1893. The Act is a codifying act, that is to say, it attempts to collate existing common law and present it in a statutory (i.e. “codified”) form. In the event, the Act did more than merely codify the law, and some new elements were introduced in 1906. The Marine Insurance Act 1906 has been highly influential, as it governs not merely English Law, but it also dominates marine insurance worldwide through its wholesale adoption by other jurisdictions. Two modern statutes, the Consumer Insurance (Disclosure and Representations) Act 2012 (“CIDRA”) and the Insurance Act 2015 have made amendments to the law of insurance. Overview The most important sections of this Act include: :s.4: a policy without ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Act 2015
The Insurance Act 2015 (2015 c.4) is a United Kingdom Act of Parliament which makes significant reforms to insurance law. It came into effect on 12 August 2016, and follows on from the Consumer Insurance (Disclosure and Representations) Act 2012 ("CIDRA"). Both of these new Acts are a consequence of the Law Commission's millennium review of the law of insurance in general, and of marine insurance in particular. The Marine Insurance Act 1906 has been amended by these two new Acts. The Act's provisions Part 1 * The Insurance Act 2015 distinguishes between "consumer" and "non-consumer" insurance contracts. Parts 2 and 3 apply only to non-consumer insurance contracts. Part 2 addresses the duty of fair presentation, which is a duty in operation before a contract in entered into. * Section 3 imposes upon the insured "a duty to make a fair presentation of the risk" to the insurer. The insured must disclose "(a) every material circumstance which the insured knows or ought to know, or (b) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Commercial Law
United Kingdom commercial law is the law which regulates the sale and purchase of goods and services, when doing business in the United Kingdom. History * Lex Mercatoria *Hanseatic league * Guild *Mercantilism *Freedom of contract *'' Laissez faire'' Foundations Personal property *Real property and personal property *Ownership * Equitable ownership * Possession * Attornment * Bailment Contracts * Commercial contracts Agency In the case of '' Watteau v Fenwick'', Lord Coleridge CJ on the Queen's Bench concurred with an opinion by Wills J that a third party could hold personally liable a principal who he did know about when he sold cigars to an agent that was acting outside of its authority. Wills J held that "the principal is liable for all the acts of the agent which are within the authority usually confided to an agent of that character, notwithstanding limitations, as between the principal and the agent, put upon that authority." This decision is heavily criticised an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marine Insurance
Marine insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though Marine insurance also includes Onshore and Offshore exposed property, ( container terminals, ports, oil platforms, pipelines), Hull, Marine Casualty, and Marine Liability. When goods are transported by mail or courier or related post, shipping insurance is used instead. History In December 1901 and January 1902, at the direction of archaeologist Jacques de Morgan, Father Jean-Vincent Scheil, OP found a 2.25 meter (or 88.5 inch) tall basalt or diorite stele in three pieces inscribed with 4,130 lines of cuneiform law dictated by Hammurabi (c. 1792–1750 BC) of the First Babylonian Empire in the city of Shush, Iran. Code of Hammurabi Law 100 stipulated repayment by a debtor of a loan to a creditor on a sche ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Acts Of Parliament 2012
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Contract Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Legislation
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
