Improving U.K. Insurance Contracts

Insurance contracting practices in Britain are “inadequate,” “uncertain,” and “unacceptable,” and the Financial Services Authority has launched a major effort to increase “contract certainty” — practices that (it’s hoped, at least) will allow companies and their insureds to better understand exactly what everyone is agreeing to.

Nick Paul and Maxine Cupitt of London’s CMS Cameron McKenna LLP offer a rundown of the new Contract Certainty Code of Practice.

[Frank Snyder]