Insurance Act 2015
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| Long title | 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. |
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| Citation | 4 |
| Text of the Insurance Act 2015 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk | |
The Insurance Act 2015 (2015 c.4) is a United Kingdom Act of Parliament which makes significant reforms to insurance law. It 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.
Part 1
Part 2 addresses the Duty of Fair Presentation.
Part 3 addresses "Warranties and other terms".
Part 4 addresses "Fraudulent claims".
Part 5 addresses "Good faith".
There are two further parts containing ancillary provisions: Part 6 and Part 7.
Initially, the Insurance Act 2015 was to have contained provisions relating to damages for the late payment of insurance claims. However, these provisions were deemed to be too controversial to pass through the expedited parliamentary procedure for Law Commission bills. They were later reinserted in Part 5 of the Enterprise Bill, which was introduced into Parliament on 16 September 2015 and passed into law on 4 May 2016. Clause 13A of the 2015 Act now states that:
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