Monthly insurance policy wording update
The Word, July 2024
29 July 2024
July’s edition of The Word features articles of interest from across the insurance sector.
In light of the recent Financial Conduct Authority interventions, we consider a First-Tier Tribunal Property Chamber decision on insurance arrangements for multi-occupancy buildings, and its importance for insurance distributors.
We take a look at two recent reinsurance decisions highlighting the importance of ensuring contractual provisions are clear.
Following June’s publication of revised Cargo and Hull wordings by the Lloyd's Market Association, we take a look at what this means for underwriters and their policy wordings. We also consider potential implications to underwriting assessments and policy wordings in response to a recent announcement by the London Fire Brigade.
Finally, for insurers incorporating (or considering) artificial intelligence into their processes, we consider how such usage may impact the environment and, in turn, climate targets.
We hope you find this edition an informative read.
Tim
Contents
- Multi-occupancy building insurance: Latest tribunal decision
- It’s not cricket: Insurers change their mind about jurisdiction
- Words matter: Another case on the importance of accurate drafting
- Navigating Oil Price Cap legislation: LMA issues revised Cargo and Hull wordings
- London Fire Brigade to stop attending for automatic fire alarms: Implications for insurers
- How might AI impact insurer climate targets?
Meet the team
Tim Johnson
Partner
Joanna Wallens
Associate
Lauren Wilkinson
Trainee Solicitor
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Thomas Gibby
Senior Associate
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