The Insurance Bill, a piece of legislation designed to modernise and support the growth of Britain's insurance industry, continues to move through Parliament and may obtain Royal Assent as early as 30 March 2015.
The Bill ushers in a more modern regime for the industry by updating the 100 - year-old regulations governing contracts between businesses and insurers. The government believes that updating the regulations will lend transparency to the industry and lower the number of legal disputes, better equipping UK insurers to survive against global competitors who have already adopted more modern regimes for governing insurance.
The Bill contains three main areas of reform: disclosure and misrepresentation in business and other non-consumer insurance contracts, warranties, and remedies for fraudulent claims.
Year: 2015
New Stricter Drug Driving Law Starts in March
On 2 March 2015, the government's new, zero-tolerance drug driving law goes into effect in England and Wales. The law enforces limits for 16 different drugs-eight that are generally prescribed, eight that are illegal -in an effort to lower the estimated 200 drug driving-related UK deaths that occur each year. These new restrictions will affect about 19 million prescription users a year, according to the Department for Transport, and will have serious consequences for anyone who flouts the law.
Understanding Your Home Insurance Policy
Deciphering all of the parts of your home insurance policy can be difficult. This article covers the basics in order for you to understand your policy more easily. All home insurance policies follow the same general format: A declarations page, a definitions section and sections for property insurance and liability insurance.