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- Deliberate suppression by a proposer for insurance of a material fact relating to the risk, usually making the contract null and void.
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This note provides an overview of the types of terms that are generally included in insurance contracts. It also explains the reforms introduced by the Insurance Act 2015 relating to warranties and risk mitigating terms, such as certain types of condition precedent.
When the Insurance Act 2015 (the “Act”) comes into force on 12 August 2016, it will make some key changes to the law relating to warranties and other terms in insurance contracts. The changes will apply to all insurance and reinsurance contracts that incept or are renewed on or after 12 August 2016, and to variations of existing policies on ...
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A document issued by an insurer detailing the terms and conditions applicable to an insurer contract, and constituting legal evidence of the agreement to insure. Issued together with a Schedule, which shows any variation to the terms and conditions.
Oct 30, 2023 · One of the purposes of a commercial contract is to allocate risk and liability through, for example, the provision of indemnities. In this context, one party may choose or be required to cover the liability allocated to it through a covenant to purchase or maintain certain insurance policies.
An outline of the classification of contract terms as conditions, warranties and intermediate or innominate terms.
This note gives an overview of the general legal principles which apply to insurance contracts including the requirement of insurable interest, the remedies for breach of contract terms and the insurer's right of subrogation.
Oct 22, 2015 · Conditions precedent in insurance contracts generally fall into one of two categories: Conditions precedent to the validity of insurance contract: these conditions must be satisfied before risk will transfer to the insurer and include payment of premiums, requirements to provide information, absence of overlapping insurance, etc;
