The 4th edition of this leading introductory text – now under the sole authorship of Rob Merkin QC – provides a detailed examination of the developing law of insurance, combining exposition of the law with critical analysis. The book is designed primarily for undergraduate and postgraduate students, but is also a useful resource for those in the insurance industry studying for professional examinations and legal practitioners who need a concise guide to the legal principles. The text is enhanced by extensive citations to case law and academic commentaries.
This new edition has been substantially rewritten in light of the transformation of insurance law in recent years. The text has been revised to include new legislation and the effects of Brexit. However, the approach and - where possible - the analysis of John Lowry and Philip Rawlings have been retained.
The first part of the book considers the regulation of insurance business and the general principles underlying the law of insurance contracts. The second part examines the way in which those general principles are shaped by the particular insurance context in which they operate. A new chapter with case studies on COVID-19, earthquakes, and mesothelioma applies the principles to the problems and uncertainties for insurance law revealed by catastrophic losses. This authoritative text offers a sound grasp of the current realities of insurance practice.
Author(s): Rob Merkin
Edition: 4
Publisher: Hart Publishing
Year: 2022
Language: English
Pages: 609
City: Oxford
Contents
Table of Cases
Table of Legislation
1. The Insurance Contract
1. The Development of Insurance
2. What Is Insurance?
3. International Aspects
2. Regulation of Insurance Business
1. Origins of Domestic Regulation
2. International and European Regulation
3. Regulation of Insurance in the UK
4. High Level Standards
5. Prudential Sourcebook for Insurers
6. Business Standards
7. Regulatory Processes
8. Transfers of Insurance Business
9. Redress
10. Lloyd's of London
11. Insurance Intermediaries
12. The Insolvency of Insurers
13. The Financial Ombudsman Scheme
3. Insurance Intermediaries
1. Introduction
2. The Insurer's Agents
3. Insurance Brokers
4. The Duty to Make a Fair Presentation of the Risk
1. Background
2. Fair Presentation: Consumers
3. Fair Presentation: Business Insurance
4. The Insurers' Duty of Fair Presentation
5. Formation of the Insurance Contract
1. The Making of the Contract
2. Temporary Cover
3. Premium
4. Mistake
5. Illegality
6. Insurable Interest
1. History and Legal Framework
2. Insurable Interest in Lives: The Life Assurance Act 1774
3. Insurable Interest in Marine and Property Insurance
7. Third Party Rights
1. Third Parties and Insurance
2. Insuring on Behalf of Another Person
3. The Rights of Co-insureds
4. Assignment
8. The Terms of the Insurance Contract
1. The Classification of Terms of Insurance Contracts
2. Conditions
3. Insurance Warranties
4. Consequences of Breach of Warranty
9. Construing the Terms of the Insurance Contract
1. The Intentions of the Parties
2. Specific Rules of Construction
3. Consumer Rights Act 2015
4. Utmost Good Faith
10. Causation
1. Proximate Cause Rule
2. Agreements to Alter the Rule of Causation
3. Concurrent Causes
4. The Conduct of the Insured
11. Claims Procedure
1. Claims
2. The Insurers' Duties in Handling Claims
3. Fraudulent Claims by the Insured
4. Fraudulent Claims by Third Parties
5. Limitation Periods
6. Settlements
12. Indemnity and Reinstatement
1. The Principle of Indemnity
2. Limits on Recovery
3. Late Payment
4. Reinstatement
13. Subrogation and Contribution
1. Subrogation
2. Double Insurance and Contribution
14. Motor Insurance
1. Requirements of Compulsory Insurance
2. Third Party Claims
3. Hire of Replacement Vehicles
4. The Effect of Exclusions in the Policy
5. Uninsured and Untraced Drivers
6. Cross-border Accidents: The Green Card Scheme
15. Liability Insurance
1. Principles Applicable to Liability Policies
2. Specific Forms of Liability Insurance
3. Third Parties (Rights against Insurers) Act 2010
16. Specific Insurances
1. Property Insurance
2. War and Related Risks
3. Accident Insurance
4. Litigation Insurance
17. Marine Insurance
1. Interpreting the Marine Insurance Act 1906
2. The Form of a Marine Insurance Policy
3. The Nature of Marine Insurance
4. Time and Voyage Policies
5. Warranties
6. Perils of the Seas
7. Exclusions from Marine Policies
8. Measure of Indemnity
9. Suing and Labouring
10. Successive Losses
18. Reinsurance
1. Introduction
2. Types of Reinsurance Contracts
3. Formation of the Contract
4. Express and Implied Terms
5. Losses and Claims
19. Case Studies
1. Introduction
2. Mesothelioma and Liability Insurance
3. COVID-19 and Business Interruption Insurance
4. Earthquakes and Property Insurance
Index
