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ARTICLE · 19 JANUARY 2012

Update: Consultation On Brokers' Liability For Premium

CMS Cameron McKenna Nabarro Olswang
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In our previous Law-Now "Insurance law reform: consultation on brokers' liability for premium" we explained that the Law Commission had published a summary of the responses received to its consultation on reform of section 53(1) of the Marine Insurance Act 1906.

United KingdomInsurance
Alexander Denslow
Alexander Denslow
Nick Moore
Nick Moore

In our previous Law-Now "Insurance law reform: consultation on brokers' liability for premium" we explained that the Law Commission had published a summary of the responses received to its consultation on reform of section 53(1) of the Marine Insurance Act 1906. Currently, the effect of s53 (1) on marine insurance is that the broker is primarily liable to pay the premium due, even if the insured refuses to pay or becomes insolvent.

The Law Commission has now begun a second consultation on section 53. This sets out focused proposals for reform of this area of law based on the various issues, papers and responses received from the first consultation. Consultees are being invited to submit a response to the proposals for reform being put forward:

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