Made it illegal to gamble (effect a ) life insurance policy on someone's life as a form of wager
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Marine insurance (Gambling Polices) Act 1909
Made it a criminal offence to effect a marine policy where there is no insurable interest or no reasonable expectation of such an interest
2 of 25
Gaming Act 1845
Extended scope of Life Insurance Act beyond life insurance to all general insurances
3 of 25
Rehabilitation Act 1974
Noncustodial term 5 yrs declared (2.5yrs if under 18 at time of conviction) custodial term 6-30 months 10 yrs (5yrs if under 18 at time of conviction )
4 of 25
Employers Liability Insurance (1969)
Made it compulsory for employer’s to have liability insurance to cover their employees against injury or disease whilst at work on work activates. Min 5million, although most insurer's offer 10 million cover as standard certification
5 of 25
Road Traffic Act 1988
Made it compulsory by law to cover third party cover for damage to third's parties or their property. RTA is minimum cover req, most insurer's will include fire and theft cover as well.
6 of 25
Riding Establishment Act (1970)
Made is compulsory for Riding Establishments to have public liability insurance
7 of 25
Dangerous dogs Act 1991
Act that made it compulsory to have Liability insurance for dangerous dogs 5 breeds nature and scope of cover is not defines, but local authority which issues the licence must be satisfied by cover
8 of 25
Dangerous wild animals Act 1976)
Act that made it compulsory to have Liability insurance nature and scope of cover is not defines, but local authority which issues the licence must be satisfied by cover
9 of 25
Solicitors (Amendment Act (1974)
Act which made it compulsory for solicitors to have professional indemnity
10 of 25
Unfair Contract Terms in Consumer Contract regulations 1999
Legislation to reflect more closely the EU Directive applies to unfair contract terms between consumer and seller/supplier
11 of 25
Contract Rights of Third Parties Act 1999
Means a Third party will have the right to enforce a contract term third party must be identified in contract by name ( may be named as an additional driver on policy) or classes of person in cert wordings
12 of 25
Financial Services Markets Act 1986 FSMA)
Gave regulation control to the FSA for control of mortgages and investments companies, intermediaries and Lloyds
13 of 25
Financial Services Markets Act 2000 (FSMA)
Gave regulation control to the FSA for control of Life and pensions general insurance companies, intermediaries and Lloyds
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Financial Services Markets Act 2005 (FSMA)
Gave regulation control to the FSA for control of ALL general insurance policies through insurance companies, intermediaries and Lloyds
15 of 25
Data Protection Act 1984
Gave public protection from companies loosing, disclosing info, or retain inaccurate info. Data held in database format
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Data Protection Act 1998
Replaced 1984 act concerned mainly with data transfer and does not limit itself to computer data.
17 of 25
The Criminal Justice Act 1988
Makes it illegal to launder gains from crimes, but limits itself to drug trafficking and terrorism
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The Criminal Justice Act 1993
Makes it illegal to launder gains from other crimes. Requires all individuals not to be actively involved in money laundering/collusion/concealment also makes tipping off a suspected person a criminal offence. Assistance to a criminal you know/suspec
19 of 25
Proceeds of Crime Act 2002
Act extends range of offences for money laundering and gives extended rights to seize property or goods suspected to be bought by gains of criminal activity and extends Criminal Justice act to make it offence not to report ML
20 of 25
The Money Laundering Regulations 1993
Foundation to prevent money laundering in financial sector. Requires creation and maintenance of systems to prevent and control money laundering. Applied to defined organisations in financial services but not insurance services
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The Money Laundering Regulations 2007
Extend 1993 and 2003 regulations and extend the range of types of businesses covered including life and financial advisors, auctioneer, auditors, tax consultants, estate agents
22 of 25
Third Parties (Rights Against Insurers) Act 2010
This permits a third party to bring a claim directly against the insurers if they have become insolvent without having to restore the insolvent company to the register
23 of 25
Equality Act 2010
This made it that insurance companies can't use gender as a factor in pricing
24 of 25
Enterprise Act 2016
This gives policyholders a legal right to claim damages in the event of a late payment
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Other cards in this set
Card 2
Front
Marine insurance (Gambling Polices) Act 1909
Back
Made it a criminal offence to effect a marine policy where there is no insurable interest or no reasonable expectation of such an interest
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