This Introduction, produced jointly with the Federation of European Risk Management Associations (FERMA), is for European risk managers to understand the key aspects of the Insurance Act 2015 – how it will impact on them and areas to consider before the new law goes live in August 2016. It is not a full technical analysis of the Act, but rather a summary to introduce the subject and matters of key importance to risk managers.
The Insurance Act 2015 will affect all businesses buying insurance or reinsurance cover governed by UK law. This Introduction is therefore relevant for all European insurance buyers who already place some or all of their cover in the London/UK Market or who are considering doing so.
