Insurance Law Monthly

The Financial Services and Markets Act 2000 finally received the Royal Assent in June 2000, although parts of the structure established by the Act have been in place for some time in anticipation of the new regime. The 2000 Act is an ambitious piece..

Lloyd’s has been self-regulating since its inception. Self-regulation was formalised in the Lloyd’s Act 1982, placing the primary responsibility for regulation in the hands of the Council of Lloyd’s. However, the events of the..

The 2000 Act contains detailed provisions regulating the transfer of insurance businesses. The measures in essence are the same as those presently contained in the Insurance Companies Act 1982, although there has been a complete redrafting exercise...

The financial services industry has over the last 20 years developed a variety of dispute resolution mechanisms, for the most part voluntarily established and funded by the relevant sector. As far as insurance is concerned, the Insurance Ombudsman..

The Financial Services Act 1986 operated a compensation scheme for the victims of contraventions of that Act. An entirely separate compensation scheme for the holders of policies of insolvent companies existed under the Policyholders Protection Act..

(Mann v Lexington Insurance Co, June 2000 (forthcoming in [2000] Lloyd’s Rep IR))