August 20, 2014
On 15 July 2014 the Law Commission and the Scottish Law Commission presented a report to Government. The report, the culmination of eight years of consultations, included certain recommendations which we are discussing in this post, together with a draft Bill – the Insurance Bill – designed to implement them. The recommendations were intended to reform what is now considered outdated law on insurance which is based on the 18th and 19th century principles of the Marine Insurance Act 1906. And it will spell good news for businesses seeking insurance.