The Great Fire of London was finally extinguished 350 years ago today. New insurance structures emerged in the aftermath of the Great Fire – which bear striking resemblance to some of ...05 September 2016
UK: Meso Compensation Scheme - Update
Claimants and asbestos support groups have welcomed this development, but have criticised the fixed uprating date as arbitrary and have called for the scheme to be backdated and extended to all asbestos-related cancer sufferers. Insurers have largely embraced the announcement but warned against further changes. Their concerns are that they are responsible for paying these claims despite taking no premium for them, and it is uncertain if the scheme was backdated whether unforeseen liabilities would be created that the DMPS could not meet. Insurers have also raised concerns that the further changes could see the scheme become a first response rather than a last resort as intended, deterring pursuing the true compensators. Whilst it is generally accepted that mesothelioma is a signature asbestos related disease any expansion of the scheme to other cancers – principally lung cancer – would clearly be controversial given the myriad of potential causes, including smoking.
The DMPS has already paid out £19 million in its first 10 months of operation.
The Insurance Act 2015 (the "Act") comes into force tomorrow. It represents a fundamental departure from existing insurance law. The changes impact on a number of key areas which are...11 August 2016
The Supreme Court published two judgments on how dishonesty affects insurance claims before the end of the most recent Trinity term:10 August 2016