As part of their ongoing law reform project, the Law Commission and Scottish Law Commission (the Commissions) have published a number of draft clauses relating to the Insurance Contracts Bill as part of a limited consultation. The draft clauses cover:
- fair presentation (disclosure and representations) in business insurance;
- damages for late payment of claims;
- insurers’ remedies for fraudulent claims; and
- good faith.
The Commissions welcome comments from interested parties by 21 February 2014. In addition, the Commissions have stated that work is also ongoing on draft clauses relating to warranties and contracting out.
To view the draft clauses please click here and to view the accompanying notes please click here.