A two-hour workshop encompassing the basic principles of insurance-related law, and how these practically affect the operation of key insurance policies.
We will in particular be concentrating on the key principle of indemnity and how this can affect claim settlements, and the importance of establishing proximate cause - was the original event which actually triggered the claim one which fell within the scope of policy cover?
We will also be taking a brief look at the law of agency and its application to the insurance process, and the principle of subrogation - the right to recover from a culpable third party following the settlement of a claim.
Finally, we will have a short overview of the Insurance Act 2015 and its practical effects on the renewal of an insurance policy. By the end, attendees should have a clear understanding of the basic workings of these key insurance principles, and appreciate how they as insurance buyers are potentially affected by them.
- Graham Terrell, technical advisor, JLT
- Felix Ukaegbu, partner, JLT