When insurance law meets principled regulation

As the full importance of the Law Commission’s proposals for reform of insurance contract law come to light, Stephen Netherway of CMS Cameron McKenna explains how the changes will impact both consumer and business insurance in the UK and why the broker-insurer relationship will be shaken by the proposed reforms.

Stephen Netherway is a partner in the Insurance and Reinsurance Group at CMS Cameron McKenna and an editorial member of CMS Cameron McKenna’s Insurance Broking Practice and the Law.

On 17 July 2007, the Law Commission and the Scottish Law Commission published a joint consultation paper setting out proposals for the statutory reform of insurance law in the UK. Their proposals affect both consumer and general business insurance. Legislative change by 2010 is signposted.