Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

Motor insurance liability: indemnity, Road Traffic Act obligations, MIB and Article 75, stolen vehicles, direct rights against insurers, Green Card claims and accidents abroad

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Practice notes

Within this PrACTice Note, the Road Traffic Act 1988 is abbreviated to RTA 1988.

Types of insurer and MIB liability

In most claims, a motor insurer will extend complete indemnity to their insured under a valid Policy. This signifies that the insurer accepts a contractual responsibility to discharge all Damages imposed on the defendant driver. However, where the insured breaches the policy (whether before or after the event), the insurer may, under the contract, avoid liability to the insured. In that event, the insurer owes no duty to indemnify the insured thereafter...

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Web page updated on 21/05/2026

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