Fair presentation meaning

Gilbert and another company v Broadoak Private Finance Ltd and others [2026] EWHC 153 (KB) What are the practical implications of this case? This decision underscores that the duty of fair presentation is exacting and fundamental to preserving the integrity of the court’s process. Before making a without notice application, an applicant must undertake proper enquiries and fully interrogate both the factual basis and the legal propositions on which they intend to rely. That obligation also embraces information that would have been identified had reasonable enquiries been pursued. Practitioners should approach these applications with meticulous care and balance, ensuring that relevant counterarguments are not minimised or left undeveloped. Make proper enquiries before any without notice application Fully investigate the facts and the legal arguments relied upon Include matters discoverable through reasonable enquiries Prepare in a meticulous, even-handed way, not downplaying counterarguments Here, the judge considered there was substantial merit in the respondent’s contention that the claimant had not adequately revealed...

Lonham Group Ltd v Scotbeef Ltd & another [2025] EWCA Civ 203 Traditionally, English insurance law placed onerous burdens on insured parties: they were required to reveal every material circumstance capable of affecting the judgment of a prudent insurer when setting the premium or determining whether to accept the risk. If they did not, the insurer could treat the policy as though it never existed. Likewise, any failure to comply with a warranty discharged the insurer from liability under the policy, regardless of the warranty’s relevance to the risk and irrespective of whether the breach was later remedied. In the early development of insurance, these severe rules were arguably justified by the informational imbalance between insured and insurer. By the twenty-first century, however, a more sophisticated market generated pressure for reform. For non-consumer insurance, the result was IA 2015, which marked a substantial change in approach. The previous duty of disclosure was replaced by a duty of fair presentation, and only in defined circumstances could an...

In this issue: Cases and decisions Types of insurance Market practice UK regulation EU regulation Cases tracker 2025 case tracker Dates for your diary New and updated content Daily and weekly news alerts LexTalk®Insurance: a Lexis®Nexis community Cases and decisions Lonham Group Ltd v Scotbeef Ltd and another company This appeal was about the interpretation of a contract of insurance and the possible application of the Insurance Act 2015, including its remedies for breaches of the duty of fair presentation. Lonham succeeded on appeal. See: [2025] EWCA Civ 203. Types of insurance Environmental liability On 27 February 2025, the European insurance company Swiss Re stated that it expects losses of under US$700m arising from the mass wildfires that swept the Los Angeles (LA) area in January 2025. See: Swiss Re expects less than US$700m hit from LA wildfires. Market practice Private equity drives 60% of...

The Insurance Act 2015 (IA 2015) obtained Royal Assent on 12 February 2015 and, save for Part 6 of the Act, took effect on 12 August 2016. It marks the widest overhaul of the statutory regime governing English insurance contracts since the Marine Insurance Act 1906 (MIA 1906). For fuller commentary on IA 2015, refer to Practice Note: Insurance Act 2015 (IA 2015)—essentials. Below we address some frequently asked questions (FAQs) concerning IA 2015... What is the IA 2015 and when did it come into force? IA 2015 is the most far-reaching reform of English insurance contract law since MIA 1906. It secured Royal Assent on 12 February 2015 and, except for Part 6, commenced on 12 August 2016. The Act reshaped rules on fair presentation, remedies for non-disclosure and misrepresentation, warranties, fraudulent claims, contracting out, and third-party rights. The Enterprise Act 2016 (EA 2016) subsequently introduced a right to recover damages for the late payment of insurance claims, in force from 4 May 2017... Further reading/relevant...

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z This glossary provides helpful (re)insurance and underwriting definitions. For focused guidance on reinsurance terminology, see Practice Note: Reinsurance—essentials. A Accident An unforeseen or unintended event or incident that typically results in damage or injury (physical or financial) to the insured or a third party. Accidental damage Unintended or unexpected harm or damage caused to property or a person. Accidental death benefit Some life insurance policies pay an extra amount, over and above the original sum insured, if the insured dies because of an accident. Act of God (force majeure) An occurrence beyond anyone’s control, such as a natural disaster. Active underwriter The person with primary responsibility and authority to accept insurance and reinsurance risks on behalf of the members of a syndicate in the Lloyd’s market. See also Underwriter. Actuary A qualified professional who...

This Practice Note outlines the professional indemnity insurance (PII) obligations for accountants and auditors, together with detailed guidance on the Institute of Chartered Accountants in England and Wales (ICAEW) Minimum Terms and Conditions (MTC). Regulatory setting Who is the regulator? The Financial Reporting Council (FRC) provides non-statutory oversight of how the six chartered accountancy bodies regulate their members. Each of these bodies sets its own professional indemnity insurance requirements. This Practice Note concentrates on the ICAEW, one of those bodies. As an improvement regulator, the ICAEW safeguards the public by ensuring members uphold the highest levels of professional competence and conduct. Is insurance compulsory for practice/membership? Professional indemnity insurance is mandatory for all ICAEW members who hold a practising certificate and operate in public practice. Members must follow the ICAEW PII Regulations, which specify the required level of cover, the participating insurers, and the minimum policy wording those insurers must adopt. The latest PII Regulations take effect from 1 September 2024. Is there an...

The SRA Standards and Regulations include two Codes of Conduct, one for firms and one for solicitors, RELs, RFLs and RSLs. This presentation serves as a training resource to help you brief your firm’s people on the SRA Code of Conduct for Solicitors, RELs, RFLs and RSLs (the Code for Solicitors). It explains the Code’s scope and draws attention to important provisions, notably the SRA’s expectations regarding fair treatment and standards of behaviour in the workplace. It also offers a concise summary of the SRA’s breach reporting requirements, presented in outline as an introduction...