Law of Insurance Broking, The

The Law of Insurance Broking is the only book dedicated exclusively to the law affecting insurance brokers and their relationship with clients, agents, and third parties. This leading resource has been comprehensively updated to reflect the regulatory and legislative changes to the industry. It offers practical legal solutions to the day-to-day problems encountered by brokers, as well as clarifying the key principles and terms of insurance contracts. 

Main features:

• Dedicated guidance on the law and regulation governing the professional activities of insurance brokers and the industry as a whole
• Focuses on the relationship between the client, agent, and third parties and all the relevant legal implications
• Provides practical and workable solutions to the most significant issues and legal problems faced by brokers on a daily basis
• Covers important topics such as net rating, funding, security vetting, rights to documents, profit commissions, and letters of engagement
• Explains the key terms of insurance contracts and provides guidance on formation, classification and interpretation
• Sets out the principles of the premium for marine and non-marine insurance
• Examines the responsibilities and duties of brokers throughout the claims process
• Looks at the scope of the broker’s professional liability to the insured
• Coverage of accounting procedures
• Explains reinsurance contract formation and the role of the reinsurance broker
• Overview of obtaining insurance at Lloyd’s of London
• Discusses the issues and procedures surrounding the choice of jurisdiction
• Written in accessible language to provide clear answers to day-to-day problems

Key features of this edition:

• Takes account of the recent changes affecting industry regulation
  
• Provides a new commentary on the broker’s role in preparing and drafting contractual documentation
• Includes the latest and most significant case law and legislative changes
• Acknowledges key developments introduced by the Insurance Act 2015
  
  

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Part 1 Agency;

1 The features of an insurance broker;
2 Relationship between principal and broker;
3 Relationship between principal and third parties;
4 Relationship between agents and third parties;

Part 2 The contract of insurance;

5 Principles of insurance;
6 Formation of the contract;
7 The classification and interpretation of terms in a contract of insurance;
8 The premium;
9 The claims process;
10 Accounting;
11 The broker’s professional liability to the insured;
12 Insurance at Lloyd’s of London;
13 Reinsurance;
14 Choice of law and jurisdiction;
15 Regulation of insurance brokers

Christopher Henley is a solicitor with over 30 years of experience in insurance and reinsurance law. His expertise spans litigation, regulatory and compliance issues and he is a Fellow of the Chartered Insurance Institute. He is Head of Wordings at Tokio Marine Kiln Insurance Group.

Simon Kemp is a partner in the insurance and reinsurance practice at Clyde & Co. His main areas of focus are coverage disputes, often with an international element, and regulatory and compliance matters. He also acts as a Privy Council agent.