CarlaPreston

LEIA Seminar 2015: Bonds, Indemnities and Warranties

On 26 March 2015, we were invited to speak at and sit on a Q&A panel session at a Lift and Escalator Industry Association (LEIA) seminar held in Birmingham. The event – ‘Bonds/Indemnities/Warranties’ – invited members of the lift and escalator industry’s trade association to learn more around the subject of on-demand and performance bonds, third party warranties and indemnities. The seminar provided a great opportunity to gain insight into industry perception, expectations and demands around these products and we thought it would be useful to cover these subjects over a series of blog posts, starting with ‘bonds’.

The Insurance Act 2015

On 12th February 2015, Parliament passed the Insurance Act 2015. The reforms brought about by the Act are the most significant changes to be introduced to United Kingdom insurance contract law since the Marine Insurance Act of 1906. Implementation of the amendments will follow an 18-month preparation period with the Act coming into force on 12 August 2016.

By |March 10, 2015|Business, Business Insurance, News|

The Insurance Bill Part 2: Insurance Warranties

In our last post on the Insurance Bill, we discussed how legal reforms proposed by the Law Commission and Scottish Law Commission could be set to revolutionise the way commercial insurance is provided and administered in the UK. We talked in detail about how the Insurance Bill will affect duty of disclosure, a grey area of commercial insurance that has been recognised as being poorly understood. The Insurance Bill will also have an effect on insurance warranties, another area of concern and confusion for businesses, and it is these we will discuss in this latest post.

By |September 8, 2014|Business, Business Insurance, News|

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